Robeco Schweiz AG Sells 278,669 Shares of Mueller Water Products $MWA

Robeco Schweiz AG decreased its holdings in Mueller Water Products (NYSE:MWA – Free Report) by 79.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,000 shares of the industrial products company’s stock after selling 278,669 shares during the period. Robeco Schweiz AG’s holdings in Mueller Water Products were worth $1,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Trust Advisors LP raised its position in Mueller Water Products by 34.0% in the 1st quarter. First Trust Advisors LP now owns 6,036,679 shares of the industrial products company’s stock worth $165,948,000 after purchasing an additional 1,530,193 shares during the period. Janus Henderson Group PLC boosted its position in Mueller Water Products by 58.6% during the first quarter. Janus Henderson Group PLC now owns 1,934,813 shares of the industrial products company’s stock valued at $53,217,000 after buying an additional 714,913 shares during the period. Bank of New York Mellon Corp purchased a new stake in Mueller Water Products during the second quarter valued at about $28,496,000. Bank of America Corp DE boosted its position in Mueller Water Products by 30.0% during the first quarter. Bank of America Corp DE now owns 888,975 shares of the industrial products company’s stock valued at $24,438,000 after buying an additional 205,269 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Mueller Water Products by 37.5% during the third quarter. Assenagon Asset Management S.A. now owns 626,617 shares of the industrial products company’s stock valued at $13,309,000 after buying an additional 170,800 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Mueller Water Products Stock Performance

Shares of NYSE:MWA opened at $22.27 on Monday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The company has a 50-day moving average price of $22.89 and a 200-day moving average price of $25.04. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40. Mueller Water Products has a 12 month low of $20.90 and a 12 month high of $31.00.

Mueller Water Products (NYSE:MWA – Get Free Report) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The company had revenue of $395.90 million during the quarter, compared to analyst estimates of $391.49 million. Mueller Water Products had a net margin of 15.02% and a return on equity of 23.55%. Mueller Water Products’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. As a group, equities analysts anticipate that Mueller Water Products will post 1.52 EPS for the current year.

Mueller Water Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, November 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.07. Mueller Water Products’s dividend payout ratio is currently 19.86%.

Mueller Water Products declared that its Board of Directors has approved a share repurchase plan on Thursday, October 22nd that allows the company to repurchase $300.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 8.8% of its shares through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently commented on MWA. Oppenheimer decreased their price objective on Mueller Water Products from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Weiss Ratings lowered Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. The Goldman Sachs Group dropped their target price on Mueller Water Products from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Barclays began coverage on Mueller Water Products in a research report on Tuesday, June 30th. They set an “underweight” rating and a $25.00 price target on the stock. Finally, Royal Bank Of Canada lowered Mueller Water Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $30.00 to $21.00 in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Mueller Water Products has a consensus rating of “Hold” and an average price target of $27.00.

Check Out Our Latest Research Report on MWA

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Brian Healy acquired 1,376 shares of the company’s stock in a transaction on Wednesday, October 7th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $29,928.00. Following the acquisition, the director owned 26,322 shares in the company, valued at $572,503.50. This represents a 5.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of the stock in a transaction that occurred 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 owned 30,824 shares of the company’s stock, valued at approximately $746,865.52. This trade represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,598 shares of company stock valued at $1,360,685 in the last 90 days. Insiders own 1.10% of the company’s stock.

Mueller Water Products Profile

(Free Report)

Mueller Water Products, Inc (NYSE:MWA) manufactures products and provides services used in the treatment, transmission, distribution, and measurement of water. Its customers include municipalities, water utilities, distributors, contractors, and industrial organizations.

The company’s product portfolio includes water valves, fire hydrants, pipe fittings, repair and connection products, and related infrastructure equipment. Through its Echologics business, Mueller also provides acoustic leak-detection technologies and other solutions designed to help utilities monitor and manage water distribution systems.

Mueller Water Products traces its history to Mueller Co, which was founded in 1857.

Further Reading

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

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