Citigroup Inc. Cuts Stake in Mueller Water Products $MWA

Citigroup Inc. lessened its stake in shares of Mueller Water Products (NYSE:MWA) by 43.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,290 shares of the industrial products company’s stock after selling 63,759 shares during the period. Citigroup Inc. owned about 0.05% of Mueller Water Products worth $2,151,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in shares of Mueller Water Products by 19.4% during the 2nd quarter. Invesco Ltd. now owns 5,825,366 shares of the industrial products company’s stock worth $140,042,000 after purchasing an additional 945,258 shares during the last quarter. First Trust Advisors LP lifted its stake in Mueller Water Products by 66.1% in 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 purchasing an additional 2,203,088 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mueller Water Products by 21.8% in the second quarter. Geode Capital Management LLC now owns 4,449,896 shares of the industrial products company’s stock valued at $106,987,000 after purchasing an additional 796,596 shares during the last quarter. American Century Companies Inc. grew its holdings in Mueller Water Products by 14.3% during the second quarter. American Century Companies Inc. now owns 2,788,564 shares of the industrial products company’s stock valued at $67,037,000 after purchasing an additional 348,048 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in Mueller Water Products by 2.3% during the second quarter. Westfield Capital Management Co. LP now owns 2,166,945 shares of the industrial products company’s stock valued at $52,093,000 after purchasing an additional 48,384 shares during the period. Institutional investors own 91.68% of the company’s stock.

Mueller Water Products Stock Down 3.3%

Mueller Water Products stock opened at $27.97 on Friday. Mueller Water Products has a 1-year low of $22.01 and a 1-year high of $31.00. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 1.28 and a beta of 1.15. The company has a current ratio of 4.02, a quick ratio of 2.55 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $27.46 and a 200 day simple moving average of $25.96.

Mueller Water Products (NYSE:MWA) last posted its earnings results on Wednesday, February 4th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Mueller Water Products had a return on equity of 22.34% and a net margin of 13.83%.The firm had revenue of $318.20 million for the quarter, compared to the consensus estimate of $315.26 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts predict that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Tuesday, February 10th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, February 10th. Mueller Water Products’s payout ratio is presently 22.22%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird set a $33.00 target price on Mueller Water Products in a research note on Friday, February 6th. Royal Bank Of Canada increased their price target on Mueller Water Products from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Friday, February 6th. Finally, Oppenheimer reissued an “outperform” rating and issued a $32.00 price objective (up from $30.00) on shares of Mueller Water Products in a report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mueller Water Products currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Insider Buying and Selling

In related news, Director Brian C. Healy acquired 1,125 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were acquired at an average price of $24.41 per share, with a total value of $27,461.25. Following the acquisition, the director owned 17,925 shares of the company’s stock, valued at approximately $437,549.25. This trade represents a 6.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Todd P. Helms sold 10,720 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $29.72, for a total value of $318,598.40. Following the sale, the senior vice president owned 75,197 shares in the company, valued at approximately $2,234,854.84. This represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Mueller Water Products Company Profile

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.