US Bancorp DE lessened its holdings in Mueller Water Products, Inc. (NYSE:MWA – Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,900 shares of the industrial products company’s stock after selling 6,324 shares during the period. US Bancorp DE’s holdings in Mueller Water Products were worth $863,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of Mueller Water Products by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 7,498,710 shares of the industrial products company’s stock valued at $107,981,000 after purchasing an additional 974,333 shares during the last quarter. Quest Partners LLC acquired a new stake in Mueller Water Products in the fourth quarter valued at approximately $276,000. Trexquant Investment LP bought a new stake in shares of Mueller Water Products during the fourth quarter worth $1,060,000. Global Alpha Capital Management Ltd. acquired a new position in shares of Mueller Water Products during the fourth quarter worth $1,509,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Mueller Water Products by 132.7% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,071 shares of the industrial products company’s stock valued at $1,023,000 after acquiring an additional 40,534 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.
Insider Buying and Selling
In other Mueller Water Products news, SVP Kenji Takeuchi sold 6,658 shares of the 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 transaction, the senior vice president now directly owns 28,334 shares in the company, valued at approximately $540,896.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Brian C. Healy purchased 2,650 shares of Mueller Water Products stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $19.18 per share, for a total transaction of $50,827.00. Following the completion of the acquisition, the director now owns 2,650 shares of the company’s stock, valued at approximately $50,827. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kenji Takeuchi sold 6,658 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $19.09, for a total transaction of $127,101.22. Following the transaction, the senior vice president now owns 28,334 shares in the company, valued at approximately $540,896.06. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on MWA shares. Robert W. Baird boosted their price objective on Mueller Water Products from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group raised their price objective on shares of Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Royal Bank of Canada boosted their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the stock a “sector perform” rating in a 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 for the company in a research report on Thursday, April 18th. Finally, Baird R W upgraded shares of Mueller Water Products to a “hold” rating in a report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.
Read Our Latest Report on Mueller Water Products
Mueller Water Products Stock Down 0.6 %
Mueller Water Products stock opened at $17.76 on Wednesday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.88 and a beta of 1.33. Mueller Water Products, Inc. has a 52-week low of $12.11 and a 52-week high of $19.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.08 and a current ratio of 3.53. The firm has a 50 day moving average price of $17.03 and a two-hundred day moving average price of $15.40.
Mueller Water Products (NYSE:MWA – Get Free Report) last announced its earnings results on Monday, May 6th. The industrial products company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The business had revenue of $353.40 million during the quarter, compared to the consensus estimate of $299.62 million. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. Mueller Water Products’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Equities analysts predict that Mueller Water Products, Inc. will post 0.79 EPS for the current year.
Mueller Water Products Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were given a dividend of $0.064 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.44%. Mueller Water Products’s payout ratio is 40.63%.
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.
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