VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Mueller Water Products (NYSE:MWA – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 127,100 shares of the industrial products company’s stock, valued at approximately $3,283,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Weiss Asset Management LP bought a new stake in Mueller Water Products in the first quarter valued at $1,571,000. Fiduciary Management Inc. WI bought a new position in shares of Mueller Water Products during the 4th quarter worth about $75,400,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Mueller Water Products during the 4th quarter worth about $2,222,000. Intech Investment Management LLC boosted its position in shares of Mueller Water Products by 58.9% during the 4th quarter. Intech Investment Management LLC now owns 123,367 shares of the industrial products company’s stock worth $2,939,000 after purchasing an additional 45,742 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Mueller Water Products in the 1st quarter valued at about $1,516,000. 91.68% of the stock is owned by institutional investors.
Insider Activity
In related news, Director Christine Ortiz sold 12,048 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $24.23, for a total value of $291,923.04. Following the completion of the sale, the director directly owned 30,824 shares of the company’s stock, valued at approximately $746,865.52. This represents a 28.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul McAndrew sold 40,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $26.39, for a total value of $1,055,600.00. Following the completion of the sale, the chief executive officer directly owned 42,556 shares of the company’s stock, valued at $1,123,052.84. The trade was a 48.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,598 shares of company stock worth $1,360,685 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
Mueller Water Products Trading Up 1.1%
Mueller Water Products (NYSE:MWA – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $395.90 million during the quarter, compared to the consensus estimate of $391.49 million. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%.The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. As a group, research analysts predict that Mueller Water Products will post 1.58 earnings per share for the current fiscal year.
Mueller Water Products Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, August 10th. Mueller Water Products’s dividend payout ratio (DPR) is currently 19.86%.
Analyst Ratings Changes
MWA has been the subject of a number of research analyst reports. Barclays initiated coverage on Mueller Water Products in a research report on Tuesday, June 30th. They issued an “underweight” rating and a $25.00 target price for the company. Royal Bank Of Canada decreased their price objective on Mueller Water Products from $31.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, August 7th. Wall Street Zen raised Mueller Water Products from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Mueller Water Products from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird set a $35.00 price target on shares of Mueller Water Products in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.20.
Mueller Water Products 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.
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