Edgestream Partners L.P. Invests $5.70 Million in Mueller Water Products $MWA

Edgestream Partners L.P. purchased a new position in shares of Mueller Water Products (NYSE:MWA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 236,899 shares of the industrial products company’s stock, valued at approximately $5,695,000. Edgestream Partners L.P. owned approximately 0.15% of Mueller Water Products at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its stake in Mueller Water Products by 112.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,294 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 685 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Mueller Water Products by 177.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,635 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,686 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Mueller Water Products by 355.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,842 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 2,218 shares during the period. AlphaQuest LLC purchased a new stake in shares of Mueller Water Products during the second quarter worth about $71,000. Finally, GAMMA Investing LLC increased its stake in Mueller Water Products by 55.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,143 shares of the industrial products company’s stock worth $76,000 after buying an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Water Products in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.00.

Mueller Water Products Price Performance

Shares of NYSE MWA opened at $24.48 on Wednesday. The stock’s 50-day moving average is $24.87 and its two-hundred day moving average is $25.02. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.17. Mueller Water Products has a 1-year low of $21.35 and a 1-year high of $28.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Thursday, February 24th. The industrial products company reported $0.11 EPS for the quarter. The company had revenue of $237.40 million during the quarter. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. Analysts forecast that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, November 10th. Mueller Water Products’s dividend payout ratio is currently 23.14%.

Insider Activity at Mueller Water Products

In related news, Director Brian C. Healy bought 1,070 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were purchased at an average cost of $25.78 per share, with a total value of $27,584.60. Following the transaction, the director directly owned 16,800 shares of the company’s stock, valued at approximately $433,104. This represents a 6.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company 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.