Mueller Water Products $MWA Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Mueller Water Products (NYSE:MWA) by 45.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,948 shares of the industrial products company’s stock after selling 27,485 shares during the quarter. State of Alaska Department of Revenue’s holdings in Mueller Water Products were worth $699,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Perpetual Ltd increased its position in shares of Mueller Water Products by 1.5% during the third quarter. Perpetual Ltd now owns 466,408 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 7,035 shares during the period. Diversified Management Inc. purchased a new position in Mueller Water Products in the third quarter valued at $1,753,000. QRG Capital Management Inc. boosted its holdings in Mueller Water Products by 7.3% in the second quarter. QRG Capital Management Inc. now owns 79,314 shares of the industrial products company’s stock valued at $2,049,000 after purchasing an additional 5,408 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Mueller Water Products by 10.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,787 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 1,260 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Mueller Water Products by 154.5% in the second quarter. Tidal Investments LLC now owns 32,022 shares of the industrial products company’s stock valued at $827,000 after purchasing an additional 19,442 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

Mueller Water Products Trading Up 2.0%

Shares of NYSE:MWA opened at $22.31 on Friday. Mueller Water Products has a 52 week low of $20.90 and a 52 week high of $31.00. The company’s 50 day moving average is $22.95 and its two-hundred day moving average is $25.08. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.48 billion, a PE ratio of 15.82, a P/E/G ratio of 0.90 and a beta of 1.01.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $395.90 million for the quarter, compared to analyst estimates of $391.49 million. Mueller Water Products had a net margin of 15.02% and a return on equity of 23.55%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS. Equities analysts predict that Mueller Water Products will post 1.52 earnings per share for the current fiscal year.

Mueller Water Products announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 22nd that allows the company to buy back $300.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 8.8% of its stock through open market purchases. Share buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Mueller Water Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.4%. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, November 9th. Mueller Water Products’s dividend payout ratio is currently 19.86%.

Insider Activity at Mueller Water Products

In other Mueller Water Products news, Director Christine Ortiz sold 12,048 shares of Mueller Water Products stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $24.23, for a total transaction of $291,923.04. Following the completion of the sale, the director directly owned 30,824 shares of the company’s stock, valued at $746,865.52. The trade was a 28.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian C. Healy acquired 1,376 shares of the stock in a transaction dated Wednesday, October 7th. The shares were acquired at an average cost of $21.75 per share, with a total value of $29,928.00. Following the completion of the transaction, the director owned 26,322 shares in the company, valued at approximately $572,503.50. This represents a 5.52% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,598 shares of company stock valued at $1,360,685 over the last quarter. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Oppenheimer lowered their target price on Mueller Water Products from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. The Goldman Sachs Group reduced their price target on Mueller Water Products from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Robert W. Baird set a $35.00 price target on Mueller Water Products in a research report on Friday, August 7th. Weiss Ratings cut Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Finally, Wall Street Zen downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.00.

Mueller Water Products Profile

Mueller Water Products, Inc (NYSE:MWA) manufactures products and provides services used in the treatment, transmission, distribution, and measurement of water. Its customers include municipalities, water utilities, distributors, contractors, and industrial organizations.

The company’s product portfolio includes water valves, fire hydrants, pipe fittings, repair and connection products, and related infrastructure equipment. Through its Echologics business, Mueller also provides acoustic leak-detection technologies and other solutions designed to help utilities monitor and manage water distribution systems.

Mueller Water Products traces its history to Mueller Co, which was founded in 1857.