PNC Financial Services Group Inc. trimmed its position in shares of Mueller Water Products, Inc. (NYSE:MWA – Free Report) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,753 shares of the industrial products company’s stock after selling 3,171 shares during the period. PNC Financial Services Group Inc.’s holdings in Mueller Water Products were worth $702,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Nuance Investments LLC grew its holdings in Mueller Water Products by 8.4% during the 4th quarter. Nuance Investments LLC now owns 13,161,657 shares of the industrial products company’s stock worth $189,528,000 after acquiring an additional 1,022,785 shares in the last quarter. Norges Bank bought a new position in shares of Mueller Water Products in the 4th quarter worth about $14,642,000. Invesco Ltd. lifted its position in Mueller Water Products by 31.4% in the 3rd quarter. Invesco Ltd. now owns 2,440,275 shares of the industrial products company’s stock valued at $30,943,000 after purchasing an additional 582,795 shares during the last quarter. Brown Advisory Inc. lifted its position in Mueller Water Products by 6.8% in the 4th quarter. Brown Advisory Inc. now owns 6,740,893 shares of the industrial products company’s stock valued at $97,069,000 after purchasing an additional 430,572 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Mueller Water Products in the 4th quarter valued at about $2,689,000. 91.68% of the stock is owned by institutional investors and hedge funds.
Mueller Water Products Stock Performance
Shares of MWA opened at $18.55 on Friday. The firm’s 50 day moving average is $16.95 and its 200-day moving average is $15.30. The stock has a market capitalization of $2.89 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.92 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.53 and a quick ratio of 2.08. Mueller Water Products, Inc. has a 12-month low of $12.11 and a 12-month high of $19.43.
Mueller Water Products (NYSE:MWA – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The company had revenue of $353.40 million for the quarter, compared to analysts’ expectations of $299.62 million. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Equities research analysts anticipate that Mueller Water Products, Inc. will post 0.79 EPS for the current fiscal year.
Mueller Water Products Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 10th were given a $0.064 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, May 9th. Mueller Water Products’s dividend payout ratio (DPR) is currently 40.63%.
Wall Street Analysts Forecast Growth
MWA has been the topic of several recent research reports. Robert W. Baird lifted their price objective on shares of Mueller Water Products from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Oppenheimer upgraded shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Thursday, April 18th. Baird R W upgraded shares of Mueller Water Products to a “hold” rating in a research report on Wednesday, May 8th. StockNews.com upgraded shares of Mueller Water Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Mueller Water Products from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mueller Water Products currently has a consensus rating of “Hold” and a consensus price target of $20.00.
Check Out Our Latest Stock Analysis on MWA
Insider Transactions at Mueller Water Products
In other news, Director Brian C. Healy bought 2,650 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $19.18 per share, with a total value of $50,827.00. Following the completion of the transaction, the director now directly owns 2,650 shares in the company, valued at approximately $50,827. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Brian C. Healy bought 2,650 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $19.18 per share, with a total value of $50,827.00. Following the completion of the transaction, the director now directly owns 2,650 shares in the company, valued at approximately $50,827. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenji Takeuchi sold 6,658 shares of Mueller Water Products stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $19.09, for a total transaction of $127,101.22. Following the completion of the transaction, the senior vice president now directly owns 28,334 shares in the company, valued at $540,896.06. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
About Mueller Water Products
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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