Mueller Water Products, Inc. (MWA) Stake Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its position in shares of Mueller Water Products, Inc. (NYSE:MWA) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,230 shares of the industrial products company’s stock after selling 459 shares during the period. Envestnet Asset Management Inc.’s holdings in Mueller Water Products were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MWA. Victory Capital Management Inc. increased its stake in Mueller Water Products by 13,503.4% in the third quarter. Victory Capital Management Inc. now owns 1,885,298 shares of the industrial products company’s stock worth $23,660,000 after buying an additional 1,871,439 shares during the last quarter. Aperio Group LLC increased its stake in Mueller Water Products by 13.4% in the third quarter. Aperio Group LLC now owns 47,979 shares of the industrial products company’s stock worth $602,000 after buying an additional 5,664 shares during the last quarter. First Trust Advisors LP increased its stake in Mueller Water Products by 1.1% in the third quarter. First Trust Advisors LP now owns 460,002 shares of the industrial products company’s stock worth $5,773,000 after buying an additional 4,865 shares during the last quarter. BlackRock Advisors LLC increased its stake in Mueller Water Products by 107.5% in the third quarter. BlackRock Advisors LLC now owns 221,700 shares of the industrial products company’s stock worth $2,782,000 after buying an additional 114,834 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Mueller Water Products by 22.6% in the third quarter. BlackRock Inc. now owns 90,267 shares of the industrial products company’s stock worth $1,133,000 after buying an additional 16,669 shares during the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

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

Mueller Water Products, Inc. (NYSE:MWA) traded up 1.57% during trading on Friday, hitting $12.33. 1,838,487 shares of the stock were exchanged. The stock has a 50 day moving average of $11.95 and a 200-day moving average of $12.67. Mueller Water Products, Inc. has a 52 week low of $10.18 and a 52 week high of $14.20. The stock has a market cap of $2.00 billion, a P/E ratio of 31.29 and a beta of 1.35.

Mueller Water Products (NYSE:MWA) last released its earnings results on Thursday, February 2nd. The industrial products company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.01. The company earned $167.20 million during the quarter, compared to analyst estimates of $181.36 million. Mueller Water Products had a return on equity of 19.52% and a net margin of 6.06%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. Equities analysts expect that Mueller Water Products, Inc. will post $0.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Wednesday, May 10th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Monday, May 8th. Mueller Water Products’s dividend payout ratio (DPR) is presently 41.03%.

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A number of analysts recently weighed in on MWA shares. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $15.00 price objective on shares of Mueller Water Products in a report on Wednesday, January 11th. CIBC reaffirmed an “outperform” rating and set a $15.00 price target on shares of Mueller Water Products in a research report on Friday, March 24th. Zacks Investment Research raised shares of Mueller Water Products from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, January 10th. Goldman Sachs Group Inc started coverage on shares of Mueller Water Products in a research report on Wednesday, March 8th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $15.00 price target on shares of Mueller Water Products in a research report on Tuesday, March 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.06.

In other Mueller Water Products news, Director Jerry W. Kolb sold 34,341 shares of Mueller Water Products stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $12.98, for a total transaction of $445,746.18. Following the completion of the sale, the director now directly owns 23,855 shares in the company, valued at approximately $309,637.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Evan Hart sold 150,000 shares of Mueller Water Products stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $13.16, for a total transaction of $1,974,000.00. Following the sale, the chief financial officer now owns 270,065 shares of the company’s stock, valued at $3,554,055.40. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

About Mueller Water Products

Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.

5 Day Chart for NYSE:MWA

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