Earnest Partners LLC lifted its holdings in shares of Mueller Water Products Inc (NYSE:MWA) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,386,229 shares of the industrial products company’s stock after purchasing an additional 132,636 shares during the period. Earnest Partners LLC owned about 5.30% of Mueller Water Products worth $91,158,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMP Capital Investors Ltd bought a new stake in shares of Mueller Water Products during the 4th quarter worth $128,000. Virtu Financial LLC bought a new stake in shares of Mueller Water Products during the 4th quarter worth $129,000. Global X Management Co. LLC raised its stake in shares of Mueller Water Products by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 11,284 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 4,845 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Mueller Water Products during the 1st quarter worth $126,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in shares of Mueller Water Products during the 4th quarter worth $167,000. Institutional investors own 84.57% of the company’s stock.
Shares of Mueller Water Products opened at $12.03 on Wednesday, MarketBeat.com reports. Mueller Water Products Inc has a 52-week low of $9.59 and a 52-week high of $12.99. The stock has a market capitalization of $1.92 billion, a P/E ratio of 24.78, a PEG ratio of 1.66 and a beta of 1.19. The company has a current ratio of 5.75, a quick ratio of 4.38 and a debt-to-equity ratio of 0.89.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, May 7th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $233.20 million for the quarter, compared to analysts’ expectations of $213.37 million. Mueller Water Products had a return on equity of 15.34% and a net margin of 12.47%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. sell-side analysts forecast that Mueller Water Products Inc will post 0.55 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 21st. Shareholders of record on Thursday, May 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, May 9th. Mueller Water Products’s payout ratio is presently 45.45%.
MWA has been the topic of a number of recent analyst reports. Cowen reiterated a “sell” rating and set a $10.00 target price on shares of Mueller Water Products in a research note on Monday, April 2nd. Zacks Investment Research upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Boenning Scattergood restated a “hold” rating on shares of Mueller Water Products in a research note on Tuesday, May 8th. ValuEngine cut Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Finally, Seaport Global Securities restated a “buy” rating on shares of Mueller Water Products in a research note on Wednesday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.67.
Mueller Water Products 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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