Bank of Montreal Can Purchases New Stake in Mueller Water Products, Inc. (NYSE:MWA)

Bank of Montreal Can acquired a new position in shares of Mueller Water Products, Inc. (NYSE:MWA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 82,037 shares of the industrial products company’s stock, valued at approximately $1,472,000. Bank of Montreal Can owned about 0.05% of Mueller Water Products at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Mueller Water Products by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 15,231,209 shares of the industrial products company’s stock valued at $245,070,000 after purchasing an additional 227,843 shares during the period. Gamco Investors INC. ET AL lifted its stake in Mueller Water Products by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 3,143,039 shares of the industrial products company’s stock valued at $50,571,000 after buying an additional 15,346 shares during the period. Victory Capital Management Inc. boosted its holdings in Mueller Water Products by 399.0% during the second quarter. Victory Capital Management Inc. now owns 2,962,757 shares of the industrial products company’s stock worth $53,093,000 after buying an additional 2,369,055 shares during the last quarter. First Trust Advisors LP grew its position in shares of Mueller Water Products by 4.8% during the 4th quarter. First Trust Advisors LP now owns 2,512,657 shares of the industrial products company’s stock worth $36,182,000 after buying an additional 115,963 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Mueller Water Products by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,545 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 61,122 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Water Products

In related news, insider J Scott Hall sold 135,253 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $20.34, for a total transaction of $2,751,046.02. Following the completion of the transaction, the insider now owns 544,029 shares in the company, valued at approximately $11,065,549.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Christine Ortiz sold 8,800 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 approximately $691,898.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider J Scott Hall sold 135,253 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $20.34, for a total value of $2,751,046.02. Following the transaction, the insider now directly owns 544,029 shares in the company, valued at $11,065,549.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,869 shares of company stock valued at $5,141,842 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Mueller Water Products Trading Up 2.2 %

Shares of NYSE:MWA opened at $22.06 on Friday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.52 and a beta of 1.34. Mueller Water Products, Inc. has a 12 month low of $12.13 and a 12 month high of $22.28. The company’s fifty day simple moving average is $20.56 and its 200 day simple moving average is $18.61. The company has a quick ratio of 2.31, a current ratio of 3.70 and a debt-to-equity ratio of 0.57.

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

Mueller Water Products Announces Dividend

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. This represents a $0.26 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, August 9th. Mueller Water Products’s dividend payout ratio (DPR) is currently 39.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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 report on Friday, August 9th. Oppenheimer boosted their price target on shares of Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada lifted their target price 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.