Los Angeles Capital Management LLC Increases Stake in Mueller Water Products, Inc. (NYSE:MWA)

Los Angeles Capital Management LLC grew its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 44.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 195,754 shares of the industrial products company’s stock after acquiring an additional 60,063 shares during the period. Los Angeles Capital Management LLC owned 0.13% of Mueller Water Products worth $3,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Victory Capital Management Inc. raised its holdings in Mueller Water Products by 399.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,962,757 shares of the industrial products company’s stock worth $53,093,000 after purchasing an additional 2,369,055 shares during the period. Norges Bank purchased a new stake in Mueller Water Products in the fourth quarter worth about $14,642,000. Franklin Resources Inc. raised its stake in shares of Mueller Water Products by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 7,498,710 shares of the industrial products company’s stock worth $107,981,000 after buying an additional 974,333 shares during the period. Mesirow Institutional Investment Management Inc. bought a new position in shares of Mueller Water Products in the second quarter worth about $14,040,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Mueller Water Products by 194.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,033,939 shares of the industrial products company’s stock valued at $18,528,000 after buying an additional 682,740 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Mueller Water Products Price Performance

MWA stock opened at $19.42 on Tuesday. 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’s fifty day moving average price is $19.94 and its 200-day moving average price is $17.89. Mueller Water Products, Inc. has a one year low of $12.13 and a one year high of $21.51. The company has a market capitalization of $3.03 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.39 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The company had revenue of $356.70 million for the quarter, compared to the consensus estimate of $329.67 million. During the same period in the previous year, the firm posted $0.18 EPS. Mueller Water Products’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts anticipate that Mueller Water Products, Inc. will post 0.93 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were issued a dividend of $0.064 per share. This represents a $0.26 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, August 9th. Mueller Water Products’s dividend payout ratio is presently 40.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MWA shares. StockNews.com raised shares of Mueller Water Products from a “buy” rating to a “strong-buy” rating in a report on Monday. TD Cowen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating and increased their price objective for the stock from $19.00 to $20.00 in a research note on Friday, August 9th. Royal Bank of Canada lifted their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer increased their price target on Mueller Water Products from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.60.

Insiders Place Their Bets

In related news, insider J Scott Hall sold 135,253 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $20.34, for a total value of $2,751,046.02. Following the completion of the transaction, the insider now directly owns 544,029 shares of the company’s stock, valued at $11,065,549.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider J Scott Hall sold 135,253 shares of Mueller Water Products stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $20.34, for a total value of $2,751,046.02. Following the completion of the transaction, the insider now owns 544,029 shares in the company, valued at $11,065,549.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Hansen sold 10,791 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.55, for a total value of $221,755.05. Following the sale, the director now directly owns 102,792 shares in the company, valued at $2,112,375.60. The disclosure for this sale can be found here. Insiders have sold a total of 256,869 shares of company stock valued at $5,141,842 in the last quarter. 1.40% of the stock is currently owned by insiders.

Mueller Water Products Company 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.