Envestnet Asset Management Inc. Increases Stake in Mueller Water Products, Inc. (NYSE:MWA)

Envestnet Asset Management Inc. raised its holdings in shares of Mueller Water Products, Inc. (NYSE:MWAGet Rating) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,303 shares of the industrial products company’s stock after buying an additional 6,490 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Mueller Water Products worth $1,423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MWA. Truist Financial Corp increased its holdings in Mueller Water Products by 31.2% during the first quarter. Truist Financial Corp now owns 32,467 shares of the industrial products company’s stock valued at $419,000 after buying an additional 7,720 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Mueller Water Products by 5.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 202,824 shares of the industrial products company’s stock worth $2,620,000 after purchasing an additional 10,584 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Mueller Water Products by 1,862.2% in the first quarter. Victory Capital Management Inc. now owns 913,130 shares of the industrial products company’s stock worth $10,985,000 after purchasing an additional 866,595 shares in the last quarter. Speece Thorson Capital Group Inc. increased its stake in shares of Mueller Water Products by 4.2% in the first quarter. Speece Thorson Capital Group Inc. now owns 1,239,261 shares of the industrial products company’s stock worth $16,011,000 after purchasing an additional 50,175 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Mueller Water Products by 7.5% in the first quarter. New York State Common Retirement Fund now owns 115,140 shares of the industrial products company’s stock worth $1,488,000 after purchasing an additional 8,009 shares in the last quarter. 88.56% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Price Performance

MWA stock opened at $11.58 on Tuesday. Mueller Water Products, Inc. has a 52 week low of $9.90 and a 52 week high of $15.10. The company has a quick ratio of 2.02, a current ratio of 3.26 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $11.52. The firm has a market capitalization of $1.81 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29.

Mueller Water Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Thursday, November 10th were given a dividend of $0.061 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.24 annualized dividend and a yield of 2.11%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. Mueller Water Products’s dividend payout ratio (DPR) is 48.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MWA. StockNews.com began coverage on shares of Mueller Water Products in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet lowered shares of Mueller Water Products from a “b-” rating to a “c+” rating in a research report on Monday, October 10th. Northcoast Research upgraded shares of Mueller Water Products from a “neutral” rating to a “buy” rating in a research report on Monday. Cowen dropped their target price on shares of Mueller Water Products to $11.00 in a research report on Friday, September 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Mueller Water Products from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, October 20th.

Mueller Water Products Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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