Covestor Ltd Has $68,000 Stake in Mueller Water Products, Inc. (NYSE:MWA)

Covestor Ltd reduced its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 56.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,147 shares of the industrial products company’s stock after selling 4,103 shares during the quarter. Covestor Ltd’s holdings in Mueller Water Products were worth $68,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Mueller Water Products in the third quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in Mueller Water Products during the 2nd quarter worth $72,000. National Bank of Canada FI raised its stake in Mueller Water Products by 44.2% during the 2nd quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after buying an additional 1,457 shares during the period. Quarry LP lifted its holdings in Mueller Water Products by 341.0% during the second quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 4,355 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Mueller Water Products by 434.6% in the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 3,977 shares during the period. 91.68% of the stock is owned by institutional investors.

Insider Transactions at Mueller Water Products

In other news, Director Thomas J. Hansen sold 10,791 shares of the company’s 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 sale, the director now directly owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. This represents a 9.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Mueller Water Products Stock Performance

Shares of MWA opened at $24.42 on Friday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.44 and a beta of 1.34. Mueller Water Products, Inc. has a 12 month low of $13.08 and a 12 month high of $26.28. The firm has a fifty day simple moving average of $21.91 and a 200 day simple moving average of $20.00. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company 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 company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. Research analysts forecast that Mueller Water Products, Inc. will post 1.16 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 8th will be given a dividend of $0.067 per share. 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. This represents a $0.27 annualized dividend and a dividend yield of 1.10%. Mueller Water Products’s payout ratio is 36.99%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th. TD Cowen lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating and raised their price objective for the stock from $19.00 to $20.00 in a report on Friday, August 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $27.00 target price (up from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Mueller Water Products has an average rating of “Hold” and an average price target of $22.20.

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.