Algert Global LLC Acquires Shares of 111,528 Mueller Water Products, Inc. (NYSE:MWA)

Algert Global LLC acquired a new stake in shares of Mueller Water Products, Inc. (NYSE:MWA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 111,528 shares of the industrial products company’s stock, valued at approximately $1,999,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Mueller Water Products by 1.9% during the second quarter. Arizona State Retirement System now owns 43,722 shares of the industrial products company’s stock valued at $783,000 after buying an additional 819 shares during the period. National Bank of Canada FI raised its position in shares of Mueller Water Products by 44.2% in the 2nd 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 during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Mueller Water Products by 6.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 32,885 shares of the industrial products company’s stock worth $589,000 after purchasing an additional 1,900 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Mueller Water Products by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 27,904 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 2,197 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Mueller Water Products by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 279,551 shares of the industrial products company’s stock worth $5,010,000 after purchasing an additional 2,704 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MWA has been the subject of several recent analyst reports. StockNews.com lowered Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada lifted their price target on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. TD Cowen lowered Mueller Water Products from a “buy” rating to a “hold” rating and lifted their price target for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. Finally, Oppenheimer lifted their price target on Mueller Water Products from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.60.

Insider Activity

In related news, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $19.94, for a total value of $175,472.00. Following the transaction, the director now directly owns 34,699 shares of the company’s stock, valued at approximately $691,898.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Mueller Water Products news, Director Christine Ortiz sold 8,800 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $19.94, for a total value of $175,472.00. Following the completion of the sale, the director now owns 34,699 shares in the company, valued at $691,898.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas J. Hansen sold 10,791 shares of Mueller Water Products stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.55, for a total value of $221,755.05. Following the transaction, 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 sold a total of 256,869 shares of company stock valued at $5,141,842 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Mueller Water Products Stock Up 0.6 %

Mueller Water Products stock opened at $21.49 on Thursday. Mueller Water Products, Inc. has a one year low of $12.13 and a one year high of $21.71. The stock has a fifty day moving average of $20.48 and a 200 day moving average of $18.50. 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 stock has a market cap of $3.35 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 1.52 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The firm had revenue of $356.70 million for the quarter, compared to analysts’ expectations of $329.67 million. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, sell-side analysts predict that Mueller Water Products, Inc. will post 0.93 EPS for the current year.

Mueller Water Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th were paid a dividend of $0.064 per share. This represents a $0.26 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, August 9th. Mueller Water Products’s dividend payout ratio is presently 39.06%.

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.