Mueller Water Products, Inc. (NYSE:MWA) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 5,387.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,447 shares of the industrial products company’s stock after purchasing an additional 216,430 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Mueller Water Products worth $4,784,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of Mueller Water Products during the 3rd quarter worth about $26,000. Daiwa Securities Group Inc. acquired a new position in shares of Mueller Water Products during the first quarter valued at approximately $46,000. National Bank of Canada FI raised its holdings in 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 purchasing an additional 1,457 shares in the last quarter. Blue Trust Inc. raised its holdings in Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 3,977 shares in the last quarter. Finally, Quarry LP lifted its position in Mueller Water Products by 341.0% in the second quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 4,355 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

Insiders Place Their Bets

In other news, insider J Scott Hall sold 102,025 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $19.54, for a total value of $1,993,568.50. Following the completion of the sale, the insider now owns 544,029 shares in the company, valued at $10,630,326.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of Mueller Water Products stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the sale, the director now owns 102,792 shares of the company’s stock, valued at $2,112,375.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider J Scott Hall sold 102,025 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $19.54, for a total transaction of $1,993,568.50. Following the completion of the transaction, the insider now directly owns 544,029 shares in the company, valued at $10,630,326.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 256,869 shares of company stock worth $5,141,842. Corporate insiders own 1.40% of the company’s stock.

Mueller Water Products Trading Up 0.9 %

Shares of NYSE MWA opened at $21.90 on Tuesday. 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, Inc. has a 12 month low of $12.13 and a 12 month high of $23.12. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 1.37 and a beta of 1.34. The business has a fifty day simple moving average of $21.24 and a 200-day simple moving average of $19.33.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.32 EPS for the quarter, beating 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 company had revenue of $356.70 million during the quarter, compared to analyst estimates of $329.67 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts predict that Mueller Water Products, Inc. will post 0.93 EPS for the current year.

Mueller Water Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 8th will be paid a $0.067 dividend. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a yield of 1.22%. Mueller Water Products’s dividend payout ratio (DPR) is currently 33.33%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MWA. TD Cowen lowered Mueller Water Products from a “buy” rating to a “hold” rating and upped 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 stock an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Mueller Water Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.60.

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.