Truist Financial Corp grew its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA – Free Report) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,977 shares of the industrial products company’s stock after buying an additional 1,642 shares during the quarter. Truist Financial Corp’s holdings in Mueller Water Products were worth $417,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of MWA. State of New Jersey Common Pension Fund D increased its stake in Mueller Water Products by 12.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 189,297 shares of the industrial products company’s stock worth $2,726,000 after purchasing an additional 21,316 shares during the period. New York State Common Retirement Fund increased its stake in Mueller Water Products by 13.2% in the 4th quarter. New York State Common Retirement Fund now owns 65,320 shares of the industrial products company’s stock worth $941,000 after buying an additional 7,609 shares during the period. Handelsbanken Fonder AB lifted its holdings in Mueller Water Products by 33.0% during the 4th quarter. Handelsbanken Fonder AB now owns 39,536 shares of the industrial products company’s stock valued at $569,000 after buying an additional 9,800 shares in the last quarter. Signaturefd LLC boosted its position in Mueller Water Products by 25.1% in the 4th quarter. Signaturefd LLC now owns 17,695 shares of the industrial products company’s stock valued at $255,000 after buying an additional 3,553 shares during the period. Finally, abrdn plc bought a new position in Mueller Water Products in the 4th quarter worth about $149,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Mueller Water Products
In related news, SVP Kenji Takeuchi sold 51,708 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $18.88, for a total transaction of $976,247.04. Following the transaction, the senior vice president now directly owns 34,992 shares of the company’s stock, valued at approximately $660,648.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Arsdell Stephen C. Van bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $15.42 per share, with a total value of $154,200.00. Following the transaction, the director now directly owns 80,603 shares in the company, valued at $1,242,898.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenji Takeuchi sold 51,708 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $18.88, for a total value of $976,247.04. Following the completion of the transaction, the senior vice president now owns 34,992 shares of the company’s stock, valued at approximately $660,648.96. The disclosure for this sale can be found here. Insiders sold 65,024 shares of company stock valued at $1,207,346 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
MWA has been the subject of several research analyst reports. StockNews.com raised shares of Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. The Goldman Sachs Group lifted their target price on Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Robert W. Baird increased their price target 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. Baird R W upgraded Mueller Water Products to a “hold” rating in a report on Wednesday, May 8th. Finally, Oppenheimer raised shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.00.
Get Our Latest Analysis on MWA
Mueller Water Products Trading Up 0.2 %
MWA opened at $19.20 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.08 and a debt-to-equity ratio of 0.59. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.02 and a beta of 1.33. Mueller Water Products, Inc. has a 12 month low of $12.11 and a 12 month high of $19.43. The stock has a fifty day moving average price of $16.33 and a 200-day moving average price of $14.89.
Mueller Water Products (NYSE:MWA – Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The firm had revenue of $353.40 million for the quarter, compared to the consensus estimate of $299.62 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Mueller Water Products, Inc. will post 0.79 earnings per share for the current fiscal year.
Mueller Water Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.064 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.33%. Mueller Water Products’s dividend payout ratio is presently 39.06%.
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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