Rhumbline Advisers Grows Stake in Mueller Water Products, Inc. (NYSE:MWA)

Rhumbline Advisers increased its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 279,551 shares of the industrial products company’s stock after buying an additional 2,704 shares during the period. Rhumbline Advisers owned 0.18% of Mueller Water Products worth $5,010,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pingora Partners LLC purchased a new stake in shares of Mueller Water Products in the 4th quarter valued at about $29,000. Daiwa Securities Group Inc. bought a new position in shares of Mueller Water Products in the first quarter worth approximately $46,000. Allspring Global Investments Holdings LLC purchased a new stake in Mueller Water Products in the second quarter valued at approximately $72,000. Register Financial Advisors LLC bought a new stake in Mueller Water Products during the first quarter valued at approximately $80,000. Finally, TFO Wealth Partners LLC grew its stake in Mueller Water Products by 345,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 6,916 shares of the industrial products company’s stock worth $100,000 after buying an additional 6,914 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Insiders Place Their Bets

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

Mueller Water Products Stock Up 1.9 %

MWA opened at $20.22 on Monday. Mueller Water Products, Inc. has a 12 month low of $12.13 and a 12 month high of $21.51. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $20.10 and its 200-day moving average price is $18.03. The company has a market cap of $3.15 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.41 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results 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. The business had revenue of $356.70 million for the quarter, compared to analysts’ expectations of $329.67 million. Mueller Water Products had a return on equity of 19.46% and a net margin of 9.71%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities analysts expect that Mueller Water Products, Inc. will post 0.93 EPS for the current year.

Mueller Water Products Dividend Announcement

The company also recently declared 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 was Friday, August 9th. This represents a $0.26 annualized dividend and a yield of 1.27%. Mueller Water Products’s payout ratio is currently 40.63%.

Analysts Set New Price Targets

MWA has been the topic of several research reports. Oppenheimer raised their price objective on shares of Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. TD Cowen cut Mueller Water Products from a “buy” rating to a “hold” rating and upped their price objective for the stock from $19.00 to $20.00 in a report on Friday, August 9th. Finally, StockNews.com raised Mueller Water Products from a “buy” rating to a “strong-buy” rating in a report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.60.

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.