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

Mueller Water Products logo with Industrial Products background

Victory Capital Management Inc. decreased its stake in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 83.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 484,250 shares of the industrial products company's stock after selling 2,478,507 shares during the period. Victory Capital Management Inc. owned 0.31% of Mueller Water Products worth $10,508,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Mueller Water Products in the third quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC purchased a new position in Mueller Water Products during the second quarter valued at approximately $72,000. National Bank of Canada FI grew its stake in Mueller Water Products by 44.2% during the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company's stock valued at $83,000 after acquiring an additional 1,457 shares in the last quarter. Quarry LP grew its stake in Mueller Water Products by 341.0% during the second quarter. Quarry LP now owns 5,632 shares of the industrial products company's stock valued at $101,000 after acquiring an additional 4,355 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company's stock valued at $106,000 after acquiring an additional 3,977 shares in the last quarter. Institutional investors own 91.68% of the company's stock.

Mueller Water Products Trading Up 1.7 %

NYSE:MWA opened at $24.82 on Thursday. The company has a quick ratio of 2.31, a current ratio of 3.70 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $22.29 and a 200 day moving average of $20.27. The firm has a market capitalization of $3.87 billion, a P/E ratio of 33.99, a P/E/G ratio of 1.38 and a beta of 1.34. Mueller Water Products, Inc. has a 52 week low of $13.08 and a 52 week high of $26.28.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $348.20 million during the quarter, compared to analyst estimates of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. Mueller Water Products's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS. On average, research analysts predict that Mueller Water Products, Inc. will post 1.17 earnings per share for the current year.

Mueller Water Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 8th were paid a $0.067 dividend. This represents a $0.27 annualized dividend and a dividend yield of 1.08%. This is a positive change from Mueller Water Products's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 8th. Mueller Water Products's dividend payout ratio (DPR) is presently 35.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MWA shares. Royal Bank of Canada boosted their price objective on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Mueller Water Products from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 30th. TD Cowen cut shares of Mueller Water Products from a "buy" rating to a "hold" rating and upped their price objective for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $27.00 price objective (up previously from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.20.

View Our Latest Research Report on Mueller Water Products

Insider Buying and Selling

In related news, Director Lydia W. Thomas sold 10,791 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.40, for a total transaction of $263,300.40. Following the sale, the director now directly owns 136,405 shares of the company's stock, valued at approximately $3,328,282. This represents a 7.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Mueller Water Products 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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Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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