Mueller Water Products, Inc. (MWA) Position Cut by First Trust Advisors LP

First Trust Advisors LP lessened its stake in Mueller Water Products, Inc. (NYSE:MWA) by 12.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,293,387 shares of the industrial products company’s stock after selling 181,694 shares during the quarter. First Trust Advisors LP’s holdings in Mueller Water Products were worth $14,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Mueller Water Products by 7.8% in the 2nd quarter. BlackRock Inc. now owns 10,897,164 shares of the industrial products company’s stock valued at $127,714,000 after buying an additional 786,122 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Mueller Water Products by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,213,845 shares of the industrial products company’s stock valued at $72,826,000 after buying an additional 69,511 shares in the last quarter. Wells Fargo & Company MN grew its position in Mueller Water Products by 5.9% in the 2nd quarter. Wells Fargo & Company MN now owns 2,336,375 shares of the industrial products company’s stock valued at $27,382,000 after buying an additional 129,134 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in Mueller Water Products by 5.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,290,158 shares of the industrial products company’s stock valued at $26,841,000 after buying an additional 115,516 shares in the last quarter. Finally, Royce & Associates LP grew its position in Mueller Water Products by 2.3% in the 2nd quarter. Royce & Associates LP now owns 2,200,276 shares of the industrial products company’s stock valued at $25,787,000 after buying an additional 50,087 shares in the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.

Several research firms have recently weighed in on MWA. Oppenheimer restated a “buy” rating on shares of Mueller Water Products in a research report on Monday, November 5th. DA Davidson restated a “neutral” rating on shares of Mueller Water Products in a research report on Friday, July 20th. Zacks Investment Research upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Nomura reduced their price objective on shares of Mueller Water Products from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 12th. Finally, Seaport Global Securities lowered shares of Mueller Water Products from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $12.50 in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.36.

NYSE:MWA opened at $11.28 on Friday. Mueller Water Products, Inc. has a twelve month low of $9.59 and a twelve month high of $12.96. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.13 and a quick ratio of 3.91. The stock has a market cap of $1.80 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Mueller Water Products had a net margin of 11.53% and a return on equity of 15.84%. The company had revenue of $254.30 million during the quarter, compared to analyst estimates of $239.79 million. During the same quarter last year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts expect that Mueller Water Products, Inc. will post 0.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, November 9th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Thursday, November 8th. Mueller Water Products’s payout ratio is 37.74%.

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About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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