Assenagon Asset Management S.A. Sells 550,021 Shares of Mueller Water Products $MWA

Assenagon Asset Management S.A. lowered its stake in shares of Mueller Water Products (NYSE:MWA) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 843,272 shares of the industrial products company’s stock after selling 550,021 shares during the period. Assenagon Asset Management S.A. owned 0.54% of Mueller Water Products worth $20,087,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MWA. Invesco Ltd. lifted its holdings in 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 in the last quarter. First Trust Advisors LP boosted its stake in Mueller Water Products by 66.1% in the 2nd quarter. First Trust Advisors LP now owns 5,535,000 shares of the industrial products company’s stock worth $133,061,000 after purchasing an additional 2,203,088 shares during the period. American Century Companies Inc. grew its holdings in Mueller Water Products by 11.8% during the 3rd quarter. American Century Companies Inc. now owns 3,118,795 shares of the industrial products company’s stock valued at $79,592,000 after buying an additional 330,231 shares in the last quarter. Amundi increased its position in shares of Mueller Water Products by 112.2% during the third quarter. Amundi now owns 2,267,340 shares of the industrial products company’s stock valued at $58,099,000 after buying an additional 1,198,801 shares during the period. Finally, Millennium Management LLC increased its position in shares of Mueller Water Products by 31.7% during the third quarter. Millennium Management LLC now owns 1,727,092 shares of the industrial products company’s stock valued at $44,075,000 after buying an additional 415,654 shares during the period. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Mueller Water Products Stock Down 1.6%

MWA stock opened at $27.77 on Friday. The company’s 50 day moving average is $28.32 and its 200 day moving average is $26.08. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.29 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. Mueller Water Products has a 1-year low of $22.01 and a 1-year high of $31.00.

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

Mueller Water Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were issued 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 of this dividend was Tuesday, February 10th. Mueller Water Products’s payout ratio is currently 22.22%.

Insider Buying and Selling

In related news, Director Gregg C. Sengstack bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $29.58 per share, for a total transaction of $739,500.00. Following the completion of the transaction, the director owned 25,000 shares of the company’s stock, valued at approximately $739,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian C. Healy bought 1,125 shares of Mueller Water Products 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 purchase, the director owned 17,925 shares of the company’s stock, valued at $437,549.25. The trade was a 6.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company 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.