Impax Asset Management Group plc cut its position in shares of Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,738,738 shares of the industrial products company's stock after selling 596,983 shares during the quarter. Impax Asset Management Group plc owned 3.68% of Mueller Water Products worth $124,531,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Mueller Water Products by 399.0% during the second quarter. Victory Capital Management Inc. now owns 2,962,757 shares of the industrial products company's stock worth $53,093,000 after acquiring an additional 2,369,055 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Mueller Water Products in the 2nd quarter worth approximately $14,040,000. Driehaus Capital Management LLC bought a new stake in shares of Mueller Water Products in the 2nd quarter worth approximately $13,031,000. Assenagon Asset Management S.A. lifted its stake in Mueller Water Products by 194.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,033,939 shares of the industrial products company's stock valued at $18,528,000 after purchasing an additional 682,740 shares during the last quarter. Finally, Robeco Schweiz AG bought a new stake in Mueller Water Products during the second quarter worth approximately $9,154,000. Institutional investors own 91.68% of the company's stock.
Mueller Water Products Stock Up 2.9 %
Shares of Mueller Water Products stock traded up $0.64 on Tuesday, hitting $22.69. 845,455 shares of the company traded hands, compared to its average volume of 1,243,256. The company has a quick ratio of 2.31, a current ratio of 3.70 and a debt-to-equity ratio of 0.57. Mueller Water Products, Inc. has a 12-month low of $12.39 and a 12-month high of $23.12. The company has a 50-day moving average price of $21.43 and a 200 day moving average price of $19.65. The company has a market cap of $3.54 billion, a PE ratio of 29.09, a PEG ratio of 1.38 and a beta of 1.34.
Mueller Water Products (NYSE:MWA - Get Free Report) last issued its earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The company had revenue of $356.70 million for the quarter, compared to analyst estimates of $329.67 million. Mueller Water Products had a return on equity of 19.46% and a net margin of 9.71%. The business's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. Sell-side analysts predict that Mueller Water Products, Inc. will post 0.93 earnings per share for the current year.
Mueller Water Products Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.067 per share. This is a positive change from Mueller Water Products's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.18%. Mueller Water Products's dividend payout ratio is currently 33.33%.
Insider Activity at Mueller Water Products
In other Mueller Water Products news, Director Christine Ortiz sold 8,800 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total transaction of $175,472.00. Following the completion of the transaction, the director now owns 34,699 shares of the company's stock, valued at $691,898.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider J Scott Hall sold 135,253 shares of the business's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $20.34, for a total transaction of $2,751,046.02. Following the transaction, the insider now owns 544,029 shares of the company's stock, valued at approximately $11,065,549.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christine Ortiz sold 8,800 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total transaction of $175,472.00. Following the transaction, the director now owns 34,699 shares of the company's stock, valued at approximately $691,898.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,869 shares of company stock valued at $5,141,842. Corporate insiders own 1.40% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on MWA shares. StockNews.com cut shares of Mueller Water Products from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 7th. TD Cowen downgraded shares of Mueller Water Products from a "buy" rating to a "hold" rating and boosted their target price for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Finally, Oppenheimer raised their target price on Mueller Water Products from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.60.
Check Out Our Latest Report on MWA
Mueller Water Products Company Profile
(
Free Report)
Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.
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