Mueller Water Products, Inc. (NYSE:MWA) Shares Sold by US Bancorp DE

US Bancorp DE reduced its stake in Mueller Water Products, Inc. (NYSE:MWA) by 26.4% in the 3rd quarter, Holdings Channel reports. The firm owned 37,783 shares of the industrial products company’s stock after selling 13,550 shares during the quarter. US Bancorp DE’s holdings in Mueller Water Products were worth $820,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Mueller Water Products in the third quarter worth about $26,000. Daiwa Securities Group Inc. acquired a new position in Mueller Water Products in the first quarter worth about $46,000. Allspring Global Investments Holdings LLC acquired a new position in Mueller Water Products in the second quarter worth about $72,000. National Bank of Canada FI grew its stake in Mueller Water Products by 44.2% in the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Quarry LP grew its stake in Mueller Water Products by 341.0% in the second quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 4,355 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $27.00 target price (up previously from $26.00) on shares of Mueller Water Products in a report on Friday. TD Cowen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating and raised their target price for the stock from $19.00 to $20.00 in a report on Friday, August 9th. StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.20.

Mueller Water Products Stock Performance

NYSE:MWA opened at $25.68 on Friday. The firm’s 50-day moving average is $21.63 and its 200-day moving average is $19.81. Mueller Water Products, Inc. has a 52-week low of $12.59 and a 52-week high of $25.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 1.41 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $348.20 million during the quarter, compared to the consensus estimate of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. Equities research analysts anticipate that Mueller Water Products, Inc. will post 1.13 earnings per share for the current year.

Mueller Water Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th will be given a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 8th. Mueller Water Products’s dividend payout ratio is presently 35.62%.

Insider Transactions at Mueller Water Products

In related news, insider J Scott Hall sold 102,025 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.54, for a total value of $1,993,568.50. Following the transaction, the insider now directly owns 544,029 shares in the company, valued at $10,630,326.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider J Scott Hall sold 102,025 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.54, for a total value of $1,993,568.50. Following the transaction, the insider now directly owns 544,029 shares in the company, valued at $10,630,326.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas J. Hansen sold 10,791 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the transaction, the director now owns 102,792 shares in the company, valued at $2,112,375.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,616 shares of company stock worth $2,390,796. Corporate insiders own 1.40% of the company’s stock.

Mueller Water Products Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.