Crestline Management LP Makes New Investment in Mueller Water Products, Inc. (NYSE:MWA)

Crestline Management LP purchased a new stake in Mueller Water Products, Inc. (NYSE:MWA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,351 shares of the industrial products company’s stock, valued at approximately $345,000.

Several other large investors have also recently modified their holdings of MWA. Arizona State Retirement System lifted its holdings in Mueller Water Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 45,215 shares of the industrial products company’s stock worth $1,017,000 after buying an additional 379 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Mueller Water Products by 1.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 42,929 shares of the industrial products company’s stock worth $966,000 after acquiring an additional 581 shares during the period. Baird Financial Group Inc. boosted its holdings in Mueller Water Products by 3.0% in the fourth quarter. Baird Financial Group Inc. now owns 24,702 shares of the industrial products company’s stock valued at $556,000 after acquiring an additional 722 shares during the last quarter. Blue Trust Inc. increased its position in Mueller Water Products by 14.8% during the 4th quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 726 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in Mueller Water Products by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 16,255 shares of the industrial products company’s stock worth $366,000 after purchasing an additional 768 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Mueller Water Products Price Performance

Shares of NYSE MWA opened at $24.54 on Friday. The company has a current ratio of 3.83, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $25.64 and its 200-day moving average price is $24.64. The firm has a market capitalization of $3.84 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.43 and a beta of 1.24. Mueller Water Products, Inc. has a 1-year low of $17.09 and a 1-year high of $28.58.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. The firm had revenue of $364.30 million during the quarter, compared to analysts’ expectations of $352.30 million. During the same quarter last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Mueller Water Products, Inc. will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be paid a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, May 12th. Mueller Water Products’s dividend payout ratio (DPR) is 30.23%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. The Goldman Sachs Group lifted their price objective on Mueller Water Products from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada upped their target price on Mueller Water Products from $25.00 to $29.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Mueller Water Products presently has an average rating of “Hold” and a consensus price target of $26.25.

Insider Activity

In related news, Director Lydia W. Thomas sold 17,092 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $26.77, for a total value of $457,552.84. Following the transaction, the director now owns 126,689 shares of the company’s stock, valued at approximately $3,391,464.53. This trade represents a 11.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Slobodow sold 7,376 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $24.57, for a total value of $181,228.32. The disclosure for this sale can be found here. Insiders sold 35,600 shares of company stock worth $914,076 over the last three months. 1.10% of the stock is currently owned by insiders.

About Mueller Water Products

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.