EDENTREE ASSET MANAGEMENT Ltd Boosts Stake in Mueller Water Products, Inc. (NYSE:MWA)

EDENTREE ASSET MANAGEMENT Ltd increased its position in shares of Mueller Water Products, Inc. (NYSE:MWA) by 5.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 429,955 shares of the industrial products company’s stock after buying an additional 21,333 shares during the quarter. Mueller Water Products comprises 2.4% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 15th biggest holding. EDENTREE ASSET MANAGEMENT Ltd owned about 0.28% of Mueller Water Products worth $7,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MWA. Pingora Partners LLC acquired a new position in shares of Mueller Water Products in the 4th quarter valued at $29,000. Daiwa Securities Group Inc. acquired a new position in Mueller Water Products in the first quarter valued at $46,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Mueller Water Products in the second quarter valued at about $72,000. National Bank of Canada FI boosted its stake in shares of 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 worth $83,000 after buying an additional 1,457 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in shares of Mueller Water Products during the first quarter worth about $80,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on MWA shares. Oppenheimer upped their price objective on Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price target on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. TD Cowen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating and boosted their price objective for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Finally, StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.60.

Mueller Water Products Price Performance

Mueller Water Products stock opened at $21.07 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. Mueller Water Products, Inc. has a one year low of $12.13 and a one year high of $21.51. The company has a market cap of $3.28 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 1.52 and a beta of 1.34. The business has a fifty day moving average of $20.38 and a two-hundred day moving average of $18.31.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The firm had revenue of $356.70 million for the quarter, compared to the consensus estimate of $329.67 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, analysts predict that Mueller Water Products, Inc. will post 0.93 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were given a dividend of $0.064 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.26 dividend on an annualized basis and a yield of 1.21%. Mueller Water Products’s payout ratio is 39.06%.

Insider Buying and Selling at Mueller Water Products

In related news, Director Thomas J. Hansen sold 10,791 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.55, for a total value of $221,755.05. Following the sale, the director now directly owns 102,792 shares in the company, valued at approximately $2,112,375.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Thomas J. Hansen sold 10,791 shares of Mueller Water Products stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the transaction, the director now directly owns 102,792 shares in the company, valued at approximately $2,112,375.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Ortiz sold 8,800 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the sale, the director now owns 34,699 shares in the company, valued at approximately $691,898.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 256,869 shares of company stock valued at $5,141,842. Insiders own 1.40% of the company’s stock.

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.