Mueller Water Products, Inc. (NYSE:MWA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,250 shares of the industrial products company’s stock after selling 5,831 shares during the period. Corebridge Financial Inc.’s holdings in Mueller Water Products were worth $1,738,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. boosted its holdings in shares of Mueller Water Products by 117.6% during the 3rd quarter. Citigroup Inc. now owns 203,942 shares of the industrial products company’s stock worth $4,426,000 after purchasing an additional 110,227 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Mueller Water Products by 1.5% during the third quarter. The Manufacturers Life Insurance Company now owns 87,308 shares of the industrial products company’s stock worth $1,895,000 after buying an additional 1,307 shares during the last quarter. FMR LLC grew its holdings in Mueller Water Products by 4.3% in the 3rd quarter. FMR LLC now owns 908,970 shares of the industrial products company’s stock valued at $19,725,000 after buying an additional 37,095 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Mueller Water Products in the 3rd quarter worth $1,113,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Mueller Water Products during the 3rd quarter worth $681,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MWA shares. The Goldman Sachs Group upped their price objective on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.80.

Mueller Water Products Trading Up 1.5 %

NYSE MWA opened at $26.08 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.83 and a quick ratio of 2.38. The stock has a market capitalization of $4.08 billion, a P/E ratio of 30.33, a PEG ratio of 1.43 and a beta of 1.39. The firm’s 50-day moving average is $25.81 and its two-hundred day moving average is $24.01. Mueller Water Products, Inc. has a 12 month low of $14.81 and a 12 month high of $28.58.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. During the same period last year, the company posted $0.13 EPS. On average, sell-side analysts anticipate that Mueller Water Products, Inc. will post 1.24 earnings per share for the current year.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a $0.067 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.03%. Mueller Water Products’s payout ratio is presently 30.23%.

Insider Activity

In other news, Director Lydia W. Thomas sold 17,092 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $26.77, for a total value of $457,552.84. Following the completion of the transaction, the director now owns 126,689 shares of the company’s stock, valued at approximately $3,391,464.53. This trade represents a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian Slobodow sold 11,132 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $24.73, for a total transaction of $275,294.36. Following the sale, the director now directly owns 7,376 shares in the company, valued at approximately $182,408.48. The trade was a 60.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Mueller Water Products 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.