Quantitative Systematic Strategies LLC purchased a new stake in shares of Mueller Water Products, Inc. (NYSE:MWA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,428 shares of the industrial products company’s stock, valued at approximately $210,000.
Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Mueller Water Products by 20.9% during the fourth quarter. Principal Financial Group Inc. now owns 166,837 shares of the industrial products company’s stock valued at $1,518,000 after purchasing an additional 28,785 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Mueller Water Products during the fourth quarter worth about $327,000. Legal & General Group Plc raised its position in shares of Mueller Water Products by 7.0% during the fourth quarter. Legal & General Group Plc now owns 66,457 shares of the industrial products company’s stock worth $605,000 after acquiring an additional 4,354 shares during the last quarter. Amalgamated Bank raised its position in shares of Mueller Water Products by 58.0% during the fourth quarter. Amalgamated Bank now owns 21,931 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 8,048 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Mueller Water Products by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,644,458 shares of the industrial products company’s stock worth $14,964,000 after acquiring an additional 96,754 shares during the last quarter. 86.24% of the stock is currently owned by institutional investors and hedge funds.
MWA has been the subject of a number of analyst reports. ValuEngine downgraded Mueller Water Products from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Boenning Scattergood upgraded Mueller Water Products from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Zacks Investment Research upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Goldman Sachs Group downgraded Mueller Water Products from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research report on Wednesday, June 26th. Finally, Seaport Global Securities set a $12.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.00.
MWA stock traded down $0.15 during mid-day trading on Friday, reaching $10.00. The company’s stock had a trading volume of 824,845 shares, compared to its average volume of 740,617. The company has a market capitalization of $1.61 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. The business’s 50 day moving average price is $9.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.89 and a current ratio of 3.07. Mueller Water Products, Inc. has a 12 month low of $8.47 and a 12 month high of $12.17.
Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, August 5th. The industrial products company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The business had revenue of $274.30 million during the quarter, compared to the consensus estimate of $274.96 million. Mueller Water Products had a return on equity of 17.23% and a net margin of 5.09%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Research analysts anticipate that Mueller Water Products, Inc. will post 0.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th will be issued a $0.052 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.21 dividend on an annualized basis and a yield of 2.08%. Mueller Water Products’s payout ratio is currently 37.74%.
Mueller Water Products Profile
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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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