QRG Capital Management Inc. Sells 27,804 Shares of Mueller Water Products $MWA

QRG Capital Management Inc. decreased its holdings in shares of Mueller Water Products (NYSE:MWA) by 30.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 62,330 shares of the industrial products company’s stock after selling 27,804 shares during the period. QRG Capital Management Inc.’s holdings in Mueller Water Products were worth $1,591,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP increased its holdings in Mueller Water Products by 66.1% during the second quarter. First Trust Advisors LP now owns 5,535,000 shares of the industrial products company’s stock valued at $133,061,000 after buying an additional 2,203,088 shares during the period. Assenagon Asset Management S.A. boosted its position in Mueller Water Products by 525.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,393,293 shares of the industrial products company’s stock valued at $35,557,000 after acquiring an additional 1,170,683 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Mueller Water Products by 19.4% in the 2nd quarter. Invesco Ltd. now owns 5,825,366 shares of the industrial products company’s stock valued at $140,042,000 after acquiring an additional 945,258 shares during the period. Geode Capital Management LLC raised its position in shares of Mueller Water Products by 21.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,449,896 shares of the industrial products company’s stock worth $106,987,000 after acquiring an additional 796,596 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Mueller Water Products by 344.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 945,613 shares of the industrial products company’s stock worth $22,733,000 after purchasing an additional 732,669 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Mueller Water Products Stock Up 0.0%

Mueller Water Products stock opened at $26.37 on Tuesday. Mueller Water Products has a 1-year low of $22.01 and a 1-year high of $28.58. The business has a fifty day moving average price of $24.46 and a 200-day moving average price of $25.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.54 and a quick ratio of 2.41. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.24 and a beta of 1.18.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Mueller Water Products had a return on equity of 22.75% and a net margin of 13.41%.The company had revenue of $380.80 million during the quarter, compared to analysts’ expectations of $362.32 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.28 annualized dividend and a yield of 1.1%. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.07. Mueller Water Products’s payout ratio is presently 23.14%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Water Products in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

Insider Activity at Mueller Water Products

In other news, SVP Todd P. Helms sold 15,094 shares of Mueller Water Products stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $24.62, for a total transaction of $371,614.28. Following the completion of the sale, the senior vice president directly owned 85,917 shares in the company, valued at approximately $2,115,276.54. The trade was a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian C. Healy bought 1,125 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was purchased at an average cost of $24.41 per share, for a total transaction of $27,461.25. Following the completion of the transaction, the director owned 17,925 shares in the company, valued at $437,549.25. This trade represents a 6.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

About Mueller Water Products

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company’s portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company’s operations are organized around two primary business segments.