Envestnet Asset Management Inc. Has $8.11 Million Stock Position in Mueller Water Products (NYSE:MWA)

Envestnet Asset Management Inc. increased its position in Mueller Water Products (NYSE:MWA) by 354.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 318,939 shares of the industrial products company’s stock after purchasing an additional 248,733 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.20% of Mueller Water Products worth $8,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MWA. HighTower Advisors LLC lifted its stake in Mueller Water Products by 15.9% in the 4th quarter. HighTower Advisors LLC now owns 13,823 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 1,898 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Mueller Water Products by 10.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,620 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 1,170 shares during the period. Cibc World Markets Corp acquired a new position in Mueller Water Products in the 4th quarter valued at $327,000. Xponance Inc. grew its holdings in Mueller Water Products by 8.7% in the 4th quarter. Xponance Inc. now owns 11,066 shares of the industrial products company’s stock valued at $249,000 after buying an additional 883 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Mueller Water Products in the 4th quarter valued at $63,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.25.

Insiders Place Their Bets

In related news, Director Brian Slobodow sold 7,376 shares of Mueller Water Products stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $24.57, for a total value of $181,228.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian C. Healy acquired 1,110 shares of the business’s stock in a transaction on Monday, July 7th. The shares were purchased at an average cost of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the acquisition, the director directly owned 15,730 shares in the company, valued at approximately $389,160.20. The trade was a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Mueller Water Products Price Performance

MWA stock opened at $24.61 on Tuesday. Mueller Water Products has a 52-week low of $18.55 and a 52-week high of $28.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.49 and a current ratio of 3.79. The company has a market capitalization of $3.86 billion, a P/E ratio of 27.04, a PEG ratio of 1.36 and a beta of 1.18. The company has a fifty day moving average price of $24.53 and a 200-day moving average price of $24.90.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, May 5th. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $364.30 million during the quarter, compared to the consensus estimate of $352.30 million. Mueller Water Products had a return on equity of 21.31% and a net margin of 10.48%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, equities analysts expect that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were given a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, May 12th. Mueller Water Products’s payout ratio is 29.67%.

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.