Jennison Associates LLC Buys Shares of 68,543 Mueller Water Products, Inc. (NYSE:MWA)

Jennison Associates LLC purchased a new position in Mueller Water Products, Inc. (NYSE:MWA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 68,543 shares of the industrial products company’s stock, valued at approximately $1,487,000.

Several other large investors also recently modified their holdings of MWA. V Square Quantitative Management LLC bought a new stake in shares of Mueller Water Products during the 3rd quarter valued at about $26,000. Allspring Global Investments Holdings LLC purchased a new stake in Mueller Water Products during the second quarter valued at approximately $72,000. National Bank of Canada FI raised its position 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 acquiring an additional 1,457 shares during the period. Quarry LP boosted its stake in shares of Mueller Water Products by 341.0% during the 2nd 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 during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Mueller Water Products by 434.6% during the 3rd 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. Institutional investors own 91.68% of the company’s stock.

Insider Transactions at Mueller Water Products

In other Mueller Water Products news, Director Lydia W. Thomas sold 10,791 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.40, for a total transaction of $263,300.40. Following the completion of the transaction, the director now owns 136,405 shares in the company, valued at $3,328,282. This trade represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

MWA has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. StockNews.com downgraded Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating and increased their target price for the stock from $19.00 to $20.00 in a report on Friday, August 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $27.00 price target (up previously from $26.00) on shares of Mueller Water Products in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.20.

Mueller Water Products Stock Up 0.8 %

Shares of MWA opened at $25.18 on Friday. The business’s 50 day moving average is $22.60 and its 200 day moving average is $20.39. The company has a current ratio of 3.33, a quick ratio of 2.31 and a debt-to-equity ratio of 0.55. Mueller Water Products, Inc. has a 12-month low of $13.08 and a 12-month high of $26.28. The company has a market capitalization of $3.93 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.38%. The firm had revenue of $348.20 million for the quarter, compared to analysts’ expectations of $324.80 million. During the same quarter last year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts expect that Mueller Water Products, Inc. will post 1.17 earnings per share for the current fiscal year.

Mueller Water Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were 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 was Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.06%. Mueller Water Products’s dividend payout ratio (DPR) is presently 36.99%.

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.