Handelsbanken Fonder AB cut its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 95.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,736 shares of the industrial products company’s stock after selling 566,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Mueller Water Products were worth $320,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MWA. PNC Financial Services Group Inc. boosted its position in Mueller Water Products by 580.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,909 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 12,719 shares during the last quarter. Bank of Montreal Can boosted its position in Mueller Water Products by 65.6% during the first quarter. Bank of Montreal Can now owns 28,439 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 11,270 shares during the last quarter. MetLife Investment Management LLC boosted its position in Mueller Water Products by 38.6% during the first quarter. MetLife Investment Management LLC now owns 75,681 shares of the industrial products company’s stock worth $978,000 after acquiring an additional 21,068 shares during the last quarter. APG Asset Management N.V. acquired a new position in Mueller Water Products during the first quarter worth about $2,116,000. Finally, Sei Investments Co. boosted its position in Mueller Water Products by 56.8% during the first quarter. Sei Investments Co. now owns 76,178 shares of the industrial products company’s stock worth $984,000 after acquiring an additional 27,589 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.
Mueller Water Products Price Performance
Shares of MWA opened at $14.94 on Monday. Mueller Water Products, Inc. has a twelve month low of $9.90 and a twelve month high of $14.96. The firm’s fifty day simple moving average is $13.47 and its 200-day simple moving average is $12.46. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.84 and a beta of 1.30. The company has a current ratio of 3.15, a quick ratio of 1.68 and a debt-to-equity ratio of 0.65.
Mueller Water Products (NYSE:MWA – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The industrial products company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $314.80 million for the quarter, compared to analyst estimates of $288.85 million. Mueller Water Products had a net margin of 6.18% and a return on equity of 13.00%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. Equities analysts forecast that Mueller Water Products, Inc. will post 0.68 EPS for the current fiscal year.
Mueller Water Products Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Wednesday, May 10th will be given a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Tuesday, May 9th. Mueller Water Products’s dividend payout ratio (DPR) is 47.06%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mueller Water Products from $10.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, January 10th. TheStreet raised shares of Mueller Water Products from a “c+” rating to a “b” rating in a research note on Friday, February 3rd. TD Cowen raised shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $11.00 to $19.00 in a research note on Friday. DA Davidson boosted their price target on shares of Mueller Water Products from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Mueller Water Products from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.57.
About Mueller Water Products
Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution, and measurement of water. It operates through the Water Flow Solutions and Water Management Solutions segments. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products.
Further Reading
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