Bank of America Corp DE Has $14.55 Million Position in Mueller Water Products, Inc. (NYSE:MWA)

Bank of America Corp DE lessened its stake in Mueller Water Products, Inc. (NYSE:MWA) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 646,444 shares of the industrial products company’s stock after selling 65,278 shares during the period. Bank of America Corp DE owned about 0.41% of Mueller Water Products worth $14,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MWA. Principal Financial Group Inc. boosted its position in Mueller Water Products by 2,962.3% during the fourth quarter. Principal Financial Group Inc. now owns 3,015,009 shares of the industrial products company’s stock valued at $67,838,000 after acquiring an additional 2,916,552 shares during the last quarter. Invesco Ltd. boosted its position in shares of Mueller Water Products by 79.7% during the 4th quarter. Invesco Ltd. now owns 4,014,131 shares of the industrial products company’s stock valued at $90,318,000 after purchasing an additional 1,780,366 shares in the last quarter. Norges Bank acquired a new stake in Mueller Water Products during the fourth quarter worth approximately $20,996,000. Ameriprise Financial Inc. increased its holdings in Mueller Water Products by 49.4% in the fourth quarter. Ameriprise Financial Inc. now owns 2,688,962 shares of the industrial products company’s stock worth $60,502,000 after purchasing an additional 888,591 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Mueller Water Products by 514.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 970,055 shares of the industrial products company’s stock worth $21,826,000 after purchasing an additional 812,127 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Mueller Water Products Price Performance

Shares of NYSE:MWA opened at $24.62 on Thursday. Mueller Water Products, Inc. has a twelve month low of $17.09 and a twelve month high of $28.58. The stock’s 50 day moving average is $25.52 and its 200-day moving average is $24.82. The company has a quick ratio of 2.38, a current ratio of 3.83 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 1.43 and a beta of 1.24.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, May 5th. The industrial products company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. The firm had revenue of $364.30 million for the quarter, compared to the consensus estimate of $352.30 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts forecast that Mueller Water Products, Inc. will post 1.24 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued a $0.067 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.09%. Mueller Water Products’s dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

Several brokerages have recently commented on MWA. StockNews.com downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Royal Bank of Canada raised their price target on shares of Mueller Water Products from $25.00 to $29.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.25.

Insider Activity at Mueller Water Products

In other news, Director Brian C. Healy bought 1,085 shares of the stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $25.32 per share, for a total transaction of $27,472.20. Following the completion of the acquisition, the director now directly owns 14,620 shares in the company, valued at approximately $370,178.40. This trade represents a 8.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Slobodow sold 11,132 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.73, for a total transaction of $275,294.36. Following the transaction, the director now directly owns 7,376 shares in the company, valued at $182,408.48. The trade was a 60.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,600 shares of company stock valued at $914,076. 1.10% of the stock is owned by corporate insiders.

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.