First Trust Advisors LP Sells 1,379,351 Shares of Mueller Water Products $MWA

First Trust Advisors LP trimmed its position in shares of Mueller Water Products (NYSE:MWA) by 24.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,155,649 shares of the industrial products company’s stock after selling 1,379,351 shares during the quarter. First Trust Advisors LP owned approximately 2.66% of Mueller Water Products worth $106,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Neo Ivy Capital Management increased its stake in shares of Mueller Water Products by 116.8% in the third quarter. Neo Ivy Capital Management now owns 19,886 shares of the industrial products company’s stock valued at $507,000 after buying an additional 10,712 shares during the period. GW&K Investment Management LLC boosted its position in Mueller Water Products by 7.1% during the 3rd quarter. GW&K Investment Management LLC now owns 589,466 shares of the industrial products company’s stock worth $15,043,000 after buying an additional 39,253 shares during the period. Mcdonald Partners LLC boosted its position in Mueller Water Products by 13.6% during the 3rd quarter. Mcdonald Partners LLC now owns 126,100 shares of the industrial products company’s stock worth $3,218,000 after buying an additional 15,130 shares during the period. Picton Mahoney Asset Management grew its holdings in Mueller Water Products by 71.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 40,815 shares of the industrial products company’s stock worth $1,041,000 after acquiring an additional 17,000 shares during the last quarter. Finally, Level Four Advisory Services LLC increased its position in Mueller Water Products by 2.9% in the 3rd quarter. Level Four Advisory Services LLC now owns 62,057 shares of the industrial products company’s stock valued at $1,584,000 after acquiring an additional 1,734 shares during the period. 91.68% of the stock is currently owned by institutional investors.

Mueller Water Products Stock Down 3.3%

Mueller Water Products stock opened at $27.97 on Monday. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.28 and a beta of 1.15. Mueller Water Products has a 52-week low of $22.01 and a 52-week high of $31.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.55 and a current ratio of 4.02. The firm has a 50 day moving average price of $27.46 and a two-hundred day moving average price of $25.96.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, February 4th. The industrial products company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $318.20 million for the quarter, compared to analyst estimates of $315.26 million. During the same period in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were paid a $0.07 dividend. 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 Activity

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

Analyst Upgrades and Downgrades

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

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.