Summit Global Investments Increases Holdings in Mueller Water Products, Inc. (NYSE:MWA)

Summit Global Investments grew its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,437 shares of the industrial products company’s stock after acquiring an additional 687 shares during the period. Summit Global Investments’ holdings in Mueller Water Products were worth $1,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Barclays PLC lifted its position in shares of Mueller Water Products by 361.6% in the third quarter. Barclays PLC now owns 266,155 shares of the industrial products company’s stock valued at $5,775,000 after acquiring an additional 208,502 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Mueller Water Products by 7.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 697,618 shares of the industrial products company’s stock valued at $15,696,000 after acquiring an additional 50,119 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in shares of Mueller Water Products by 57.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 31,931 shares of the industrial products company’s stock valued at $718,000 after acquiring an additional 11,711 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of Mueller Water Products by 12.4% in the fourth quarter. Alberta Investment Management Corp now owns 199,716 shares of the industrial products company’s stock valued at $4,494,000 after acquiring an additional 22,045 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Mueller Water Products in the fourth quarter worth about $1,573,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MWA has been the topic of several research reports. Royal Bank of Canada lifted their target price on Mueller Water Products from $25.00 to $29.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. The Goldman Sachs Group lifted their target price on Mueller Water Products from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 6th. Finally, Wall Street Zen cut Mueller Water Products from a “buy” rating to a “hold” rating in a report on Friday. 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.25.

Insider Buying and Selling at Mueller Water Products

In other news, Director Brian Slobodow sold 7,376 shares of the company’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 transaction of $181,228.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian C. Healy bought 1,085 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were acquired at an average cost of $25.32 per share, for a total transaction of $27,472.20. Following the purchase, the director now owns 14,620 shares of the company’s stock, valued at approximately $370,178.40. The trade was a 8.02% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 35,600 shares of company stock worth $914,076 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Mueller Water Products Trading Down 0.2%

Shares of MWA stock opened at $24.52 on Friday. Mueller Water Products, Inc. has a 12-month low of $17.09 and a 12-month high of $28.58. 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 stock’s 50-day moving average price is $25.11 and its 200-day moving average price is $24.84. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Monday, May 5th. The industrial products company reported $0.34 earnings per share (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 business had revenue of $364.30 million for the quarter, compared to the consensus estimate of $352.30 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts predict that Mueller Water Products, Inc. will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a dividend of $0.067 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.27 dividend on an annualized basis and a yield of 1.09%. Mueller Water Products’s dividend payout ratio (DPR) is presently 28.57%.

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.