Insight 2811 Inc. reduced its position in Mueller Water Products, Inc. (NYSE:MWA) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,562 shares of the industrial products company’s stock after selling 8,674 shares during the period. Insight 2811 Inc.’s holdings in Mueller Water Products were worth $804,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MWA. Integrated Investment Consultants LLC acquired a new stake in shares of Mueller Water Products in the second quarter valued at approximately $239,000. BlackRock Inc. increased its stake in shares of Mueller Water Products by 7.8% in the second quarter. BlackRock Inc. now owns 10,897,164 shares of the industrial products company’s stock valued at $127,714,000 after purchasing an additional 786,122 shares during the period. Robecosam AG increased its stake in shares of Mueller Water Products by 49.7% in the second quarter. Robecosam AG now owns 692,616 shares of the industrial products company’s stock valued at $8,048,000 after purchasing an additional 229,961 shares during the period. Royce & Associates LP increased its stake in shares of Mueller Water Products by 2.3% during the second quarter. Royce & Associates LP now owns 2,200,276 shares of the industrial products company’s stock valued at $25,787,000 after acquiring an additional 50,087 shares during the period. Finally, Stanley Laman Group Ltd. increased its stake in shares of Mueller Water Products by 6.2% during the second quarter. Stanley Laman Group Ltd. now owns 120,998 shares of the industrial products company’s stock valued at $1,418,000 after acquiring an additional 7,107 shares during the period. 86.29% of the stock is owned by institutional investors.
MWA has been the topic of a number of research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Mueller Water Products in a research note on Tuesday, May 8th. ValuEngine upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Zacks Investment Research upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Seaport Global Securities reiterated a “buy” rating on shares of Mueller Water Products in a research note on Wednesday, May 9th. Finally, DA Davidson reiterated a “neutral” rating on shares of Mueller Water Products in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Mueller Water Products presently has an average rating of “Hold” and an average target price of $13.44.
Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, August 6th. The industrial products company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $246.01 million. Mueller Water Products had a net margin of 11.24% and a return on equity of 15.67%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. sell-side analysts predict that Mueller Water Products, Inc. will post 0.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Friday, August 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, August 9th. Mueller Water Products’s payout ratio is 45.45%.
Mueller Water Products Company Profile
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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