Victory Capital Management Inc. Grows Position in Mueller Water Products, Inc. (NYSE:MWA)

Victory Capital Management Inc. raised its position in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 649,831 shares of the industrial products company's stock after purchasing an additional 165,581 shares during the period. Victory Capital Management Inc. owned 0.42% of Mueller Water Products worth $14,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MWA. R Squared Ltd purchased a new position in Mueller Water Products in the fourth quarter valued at $100,000. TD Private Client Wealth LLC increased its holdings in shares of Mueller Water Products by 468.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,408 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 4,456 shares during the last quarter. Blue Trust Inc. raised its position in shares of Mueller Water Products by 14.8% during the 4th quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company's stock worth $126,000 after acquiring an additional 726 shares in the last quarter. National Bank of Canada FI lifted its stake in Mueller Water Products by 36.9% during the third quarter. National Bank of Canada FI now owns 6,514 shares of the industrial products company's stock worth $141,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Mueller Water Products during the fourth quarter worth approximately $146,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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Mueller Water Products Stock Performance

Shares of MWA traded down $0.42 during mid-day trading on Thursday, hitting $26.36. 1,952,017 shares of the company's stock were exchanged, compared to its average volume of 1,272,170. The firm has a market capitalization of $4.13 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.43 and a beta of 1.39. Mueller Water Products, Inc. has a fifty-two week low of $14.81 and a fifty-two week high of $28.25. The business's 50 day moving average is $24.53 and its two-hundred day moving average is $23.34. The company has a current ratio of 3.83, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. During the same period in the prior year, the company posted $0.13 EPS. On average, equities analysts expect that Mueller Water Products, Inc. will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were issued a dividend of $0.067 per share. The ex-dividend date was Monday, February 10th. This represents a $0.27 annualized dividend and a yield of 1.02%. Mueller Water Products's dividend payout ratio is currently 30.23%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MWA shares. Royal Bank of Canada boosted their price target on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. The Goldman Sachs Group raised their price target on Mueller Water Products from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.80.

Insider Transactions at Mueller Water Products

In other news, Director Lydia W. Thomas sold 17,092 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total transaction of $457,552.84. Following the sale, the director now owns 126,689 shares of the company's stock, valued at $3,391,464.53. The trade was a 11.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Slobodow sold 11,132 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.73, for a total value of $275,294.36. Following the completion of the transaction, the director now directly owns 7,376 shares of the company's stock, valued at $182,408.48. The trade was a 60.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Mueller Water Products Company Profile

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.