Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,133,614 shares of the industrial products company’s stock after purchasing an additional 62,212 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.72% of Mueller Water Products worth $14,646,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MWA. Nuance Investments LLC grew its position in shares of Mueller Water Products by 67.2% in the 1st quarter. Nuance Investments LLC now owns 7,484,902 shares of the industrial products company’s stock worth $96,705,000 after acquiring an additional 3,008,643 shares in the last quarter. Kempen Capital Management N.V. boosted its position in Mueller Water Products by 152.3% during the 1st quarter. Kempen Capital Management N.V. now owns 3,394,000 shares of the industrial products company’s stock valued at $43,851,000 after purchasing an additional 2,049,004 shares during the period. Victory Capital Management Inc. boosted its position in Mueller Water Products by 1,862.2% during the 1st quarter. Victory Capital Management Inc. now owns 913,130 shares of the industrial products company’s stock valued at $10,985,000 after purchasing an additional 866,595 shares during the period. Invesco Ltd. boosted its position in Mueller Water Products by 28.5% during the 4th quarter. Invesco Ltd. now owns 3,319,480 shares of the industrial products company’s stock valued at $47,800,000 after purchasing an additional 735,737 shares during the period. Finally, Eaton Vance Management boosted its position in Mueller Water Products by 21.0% during the 1st quarter. Eaton Vance Management now owns 3,984,187 shares of the industrial products company’s stock valued at $51,476,000 after purchasing an additional 690,788 shares during the period. Institutional investors and hedge funds own 88.56% of the company’s stock.
Insider Transactions at Mueller Water Products
In other news, Director Thomas J. Hansen sold 12,578 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $12.00, for a total transaction of $150,936.00. Following the sale, the director now directly owns 82,088 shares of the company’s stock, valued at $985,056. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.
Mueller Water Products Stock Down 2.4 %
Mueller Water Products (NYSE:MWA – Get Rating) last announced its earnings results on Thursday, August 4th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $333.20 million for the quarter, compared to analyst estimates of $330.29 million. Mueller Water Products had a return on equity of 13.67% and a net margin of 7.25%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. On average, equities analysts predict that Mueller Water Products, Inc. will post 0.62 EPS for the current fiscal year.
Mueller Water Products Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Wednesday, August 10th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Tuesday, August 9th. Mueller Water Products’s dividend payout ratio (DPR) is presently 41.07%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Cowen cut their target price on Mueller Water Products from $15.00 to $13.00 in a research note on Tuesday, June 28th. Northcoast Research assumed coverage on Mueller Water Products in a research note on Friday, July 15th. They set a “neutral” rating on the stock. TheStreet raised Mueller Water Products from a “c+” rating to a “b” rating in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft began coverage on Mueller Water Products in a research note on Wednesday, August 17th. They set a “hold” rating and a $12.00 target price on the stock. Finally, Cowen dropped their price objective on Mueller Water Products from $15.00 to $13.00 in a research note on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.67.
About Mueller Water Products
Mueller Water Products Inc manufactures and markets products and services used in the transmission, distribution, and measurement of water in North America and internationally. Its products and services are used by municipalities, and the residential and non-residential construction industries. It operates through two segments, Infrastructure and Technologies.
- Get a free copy of the StockNews.com research report on Mueller Water Products (MWA)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
Receive News & Ratings for Mueller Water Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products and related companies with MarketBeat.com's FREE daily email newsletter.