Gamco Investors INC. ET AL boosted its position in Mueller Water Products (NYSE:MWA) by 32.4% during the second quarter, Holdings Channel reports. The firm owned 6,758,490 shares of the industrial products company’s stock after buying an additional 1,654,510 shares during the period. Gamco Investors INC. ET AL’s holdings in Mueller Water Products were worth $78,939,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Mueller Water Products by 14,036.8% in the first quarter. BlackRock Inc. now owns 13,522,561 shares of the industrial products company’s stock worth $159,837,000 after buying an additional 13,426,906 shares during the period. Pictet Asset Management Ltd. raised its stake in Mueller Water Products by 92.8% in the second quarter. Pictet Asset Management Ltd. now owns 4,436,586 shares of the industrial products company’s stock worth $49,601,000 after buying an additional 2,135,336 shares during the period. Vanguard Group Inc. raised its stake in Mueller Water Products by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,650,343 shares of the industrial products company’s stock worth $149,528,000 after buying an additional 1,017,949 shares during the period. Bank of America Corp DE raised its stake in Mueller Water Products by 110.5% in the first quarter. Bank of America Corp DE now owns 1,603,860 shares of the industrial products company’s stock worth $18,958,000 after buying an additional 842,053 shares during the period. Finally, Impax Asset Management LTD raised its stake in Mueller Water Products by 31.1% in the first quarter. Impax Asset Management LTD now owns 3,411,887 shares of the industrial products company’s stock worth $40,329,000 after buying an additional 809,000 shares during the period. 89.13% of the stock is currently owned by institutional investors.
Shares of Mueller Water Products (MWA) opened at 11.68 on Friday. The company has a 50-day moving average of $11.63 and a 200-day moving average of $11.83. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.51 and a beta of 1.37. Mueller Water Products has a 52-week low of $10.45 and a 52-week high of $14.20.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $232.20 million for the quarter, compared to analyst estimates of $235.07 million. Mueller Water Products had a net margin of 14.47% and a return on equity of 16.85%. Mueller Water Products’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. Equities research analysts anticipate that Mueller Water Products will post $0.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.16 annualized dividend and a yield of 1.37%. Mueller Water Products’s payout ratio is 20.00%.
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A number of analysts recently weighed in on MWA shares. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Mueller Water Products in a research report on Tuesday, May 9th. BidaskClub raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. CIBC reissued a “buy” rating on shares of Mueller Water Products in a research report on Wednesday, May 10th. Finally, Zacks Investment Research lowered shares of Mueller Water Products from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $14.00.
In other Mueller Water Products news, Director Bernard G. Rethore sold 56,400 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $11.23, for a total value of $633,372.00. Following the transaction, the director now directly owns 27,303 shares in the company, valued at approximately $306,612.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shirley C. Franklin sold 9,156 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total transaction of $104,378.40. Following the completion of the transaction, the director now owns 39,157 shares in the company, valued at $446,389.80. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Mueller Water Products Company Profile
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.
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