Mueller Water Products (NYSE:MWA) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Mueller Water Products (NYSE:MWA) by 354.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 318,939 shares of the industrial products company’s stock after acquiring an additional 248,733 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Mueller Water Products worth $8,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MWA. Byrne Asset Management LLC raised its stake in shares of Mueller Water Products by 73.1% during the first quarter. Byrne Asset Management LLC now owns 1,558 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 658 shares during the last quarter. Summit Global Investments raised its holdings in shares of Mueller Water Products by 1.3% in the 1st quarter. Summit Global Investments now owns 54,437 shares of the industrial products company’s stock worth $1,384,000 after purchasing an additional 687 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Mueller Water Products by 3.0% in the 4th quarter. Baird Financial Group Inc. now owns 24,702 shares of the industrial products company’s stock worth $556,000 after purchasing an additional 722 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Mueller Water Products by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 16,255 shares of the industrial products company’s stock valued at $366,000 after buying an additional 768 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Mueller Water Products by 8.7% during 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 during the period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mueller Water Products

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

Analyst Upgrades and Downgrades

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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Mueller Water Products has a consensus rating of “Hold” and a consensus price target of $26.25.

Mueller Water Products Stock Down 2.3%

NYSE:MWA opened at $24.61 on Tuesday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.36 and a beta of 1.18. Mueller Water Products has a 1-year low of $18.55 and a 1-year high of $28.58. The company has a current ratio of 3.79, a quick ratio of 2.49 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $24.53 and its 200 day moving average price is $24.90.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Mueller Water Products had a return on equity of 21.31% and a net margin of 10.48%. 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 previous year, the company posted $0.30 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Mueller Water Products will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders 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 annualized dividend and a yield of 1.09%. Mueller Water Products’s dividend payout ratio (DPR) is 29.67%.

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.