Short Interest in Mueller Water Products (NYSE:MWA) Drops By 18.2%

Mueller Water Products (NYSE:MWA) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 3,209,368 shares, a decline of 18.2% from the March 15th total of 3,923,798 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 1,216,054 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Gregg C. Sengstack purchased 25,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average price of $29.58 per share, with a total value of $739,500.00. Following the transaction, the director directly owned 25,000 shares in the company, valued at $739,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Todd P. Helms sold 10,720 shares of Mueller Water Products stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $27.61, for a total value of $295,979.20. Following the completion of the transaction, the senior vice president directly owned 64,477 shares of the company’s stock, valued at approximately $1,780,209.97. This represents a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mueller Water Products

Several large investors have recently bought and sold shares of MWA. Fiduciary Management Inc. WI bought a new stake in Mueller Water Products in the 4th quarter worth about $75,400,000. Amundi increased its holdings in Mueller Water Products by 112.2% in the 3rd quarter. Amundi now owns 2,267,340 shares of the industrial products company’s stock worth $58,099,000 after buying an additional 1,198,801 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Mueller Water Products by 525.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,393,293 shares of the industrial products company’s stock worth $35,557,000 after buying an additional 1,170,683 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Mueller Water Products by 344.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 945,613 shares of the industrial products company’s stock worth $22,733,000 after buying an additional 732,669 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Mueller Water Products in the 4th quarter worth about $15,547,000. 91.68% of the stock is currently owned by institutional investors.

Mueller Water Products Stock Performance

NYSE MWA traded down $0.68 during trading hours on Thursday, hitting $28.51. The company’s stock had a trading volume of 914,282 shares, compared to its average volume of 1,067,265. Mueller Water Products has a 12 month low of $22.74 and a 12 month high of $31.00. The company’s 50 day simple moving average is $28.79 and its two-hundred day simple moving average is $26.41. The company has a market cap of $4.46 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.02 and a quick ratio of 2.55.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Wednesday, February 4th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Mueller Water Products had a return on equity of 22.34% and a net margin of 13.83%.The company had revenue of $318.20 million during the quarter, compared to the consensus estimate of $315.26 million. During the same period last year, the company earned $0.25 EPS. Mueller Water Products’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Tuesday, February 10th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, February 10th. Mueller Water Products’s dividend payout ratio (DPR) is presently 22.22%.

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.