Cramer Rosenthal Mcglynn LLC raised its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 12.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,540,121 shares of the industrial products company’s stock after purchasing an additional 291,200 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 1.61% of Mueller Water Products worth $24,944,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Impax Asset Management Group plc raised its position in Mueller Water Products by 24.1% in the second quarter. Impax Asset Management Group plc now owns 11,220,838 shares of the industrial products company’s stock valued at $110,189,000 after purchasing an additional 2,177,793 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Mueller Water Products by 69.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,175,379 shares of the industrial products company’s stock valued at $21,840,000 after purchasing an additional 888,715 shares during the period. Investment Counselors of Maryland LLC acquired a new stake in shares of Mueller Water Products in the 2nd quarter valued at about $8,580,000. Speece Thorson Capital Group Inc. boosted its position in shares of Mueller Water Products by 62.2% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 1,755,554 shares of the industrial products company’s stock valued at $17,240,000 after purchasing an additional 673,350 shares during the period. Finally, Robecosam AG raised its stake in Mueller Water Products by 107.0% during the 2nd quarter. Robecosam AG now owns 811,600 shares of the industrial products company’s stock valued at $7,799,000 after acquiring an additional 419,600 shares during the last quarter. 86.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Gregory Rogowski sold 85,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.06, for a total value of $863,540.34. Following the completion of the transaction, the executive vice president now directly owns 425,473 shares of the company’s stock, valued at approximately $4,280,258.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arsdell Stephen C. Van acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 32,000 shares in the company, valued at $323,200. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on MWA shares. Seaport Global Securities set a $12.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Mueller Water Products from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, August 24th. Goldman Sachs Group lowered shares of Mueller Water Products from a “neutral” rating to a “sell” rating and cut their target price for the stock from $10.00 to $8.00 in a report on Wednesday, June 26th. Boenning Scattergood upgraded shares of Mueller Water Products from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 6th. Finally, ValuEngine raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.00.
Shares of MWA traded up $0.19 during trading hours on Friday, hitting $11.20. The company had a trading volume of 10,012 shares, compared to its average volume of 673,158. Mueller Water Products, Inc. has a 52-week low of $8.47 and a 52-week high of $12.17. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.00 and a current ratio of 3.15. The firm has a fifty day moving average price of $10.21 and a 200-day moving average price of $10.06.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $274.30 million during the quarter, compared to the consensus estimate of $274.96 million. Mueller Water Products had a return on equity of 17.10% and a net margin of 5.09%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. Research analysts anticipate that Mueller Water Products, Inc. will post 0.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 9th were given a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, August 8th. Mueller Water Products’s payout ratio is currently 39.62%.
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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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