Mutual of America Capital Management LLC Makes New Investment in Mueller Water Products (NYSE:MWA)

Mutual of America Capital Management LLC purchased a new position in shares of Mueller Water Products (NYSE:MWA) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 22,803 shares of the industrial products company’s stock, valued at approximately $580,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Mueller Water Products by 16.8% during the first quarter. Vanguard Group Inc. now owns 19,795,482 shares of the industrial products company’s stock worth $503,201,000 after purchasing an additional 2,840,895 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Mueller Water Products by 16.7% in the fourth quarter. First Trust Advisors LP now owns 4,174,938 shares of the industrial products company’s stock valued at $93,936,000 after acquiring an additional 596,956 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mueller Water Products by 79.7% in the fourth quarter. Invesco Ltd. now owns 4,014,131 shares of the industrial products company’s stock valued at $90,318,000 after acquiring an additional 1,780,366 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Mueller Water Products by 21.1% in the first quarter. Principal Financial Group Inc. now owns 3,651,340 shares of the industrial products company’s stock valued at $92,817,000 after acquiring an additional 636,331 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Mueller Water Products by 7.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,248,990 shares of the industrial products company’s stock valued at $73,102,000 after acquiring an additional 220,025 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Insider Activity at Mueller Water Products

In related news, Director Brian C. Healy purchased 1,110 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was purchased at an average price of $24.74 per share, with a total value of $27,461.40. Following the completion of the acquisition, the director owned 15,730 shares in the company, valued at $389,160.20. This trade represents a 7.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Mueller Water Products Stock Performance

NYSE MWA opened at $25.69 on Tuesday. The company has a market cap of $4.02 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.18. The stock’s 50 day simple moving average is $24.52 and its 200-day simple moving average is $25.13. Mueller Water Products has a 1-year low of $19.23 and a 1-year high of $28.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56.

Mueller Water Products (NYSE:MWA) last released its earnings results on Monday, August 4th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The firm had revenue of $380.30 million during the quarter, compared to analysts’ expectations of $366.82 million. During the same quarter last year, the business earned $0.32 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Tuesday, August 12th will be issued a $0.067 dividend. This represents a $0.27 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 12th. Mueller Water Products’s dividend payout ratio (DPR) is currently 28.72%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th.

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.