Assenagon Asset Management S.A. Sells 222,736 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Assenagon Asset Management S.A. reduced its position in Mueller Water Products, Inc. (NYSE:MWA) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 811,203 shares of the industrial products company’s stock after selling 222,736 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.52% of Mueller Water Products worth $17,603,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Mueller Water Products by 399.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,962,757 shares of the industrial products company’s stock valued at $53,093,000 after acquiring an additional 2,369,055 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Mueller Water Products in the 2nd quarter worth about $14,040,000. Driehaus Capital Management LLC acquired a new stake in shares of Mueller Water Products during the 2nd quarter worth about $13,031,000. Robeco Schweiz AG bought a new position in Mueller Water Products during the 2nd quarter valued at about $9,154,000. Finally, Cubist Systematic Strategies LLC boosted its position in Mueller Water Products by 281.7% in the second quarter. Cubist Systematic Strategies LLC now owns 663,792 shares of the industrial products company’s stock valued at $11,895,000 after buying an additional 489,902 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Mueller Water Products Price Performance

Mueller Water Products stock opened at $21.69 on Friday. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.38 billion, a P/E ratio of 27.81, a PEG ratio of 1.39 and a beta of 1.34. The business has a 50-day moving average of $21.24 and a 200-day moving average of $19.30. Mueller Water Products, Inc. has a 1 year low of $12.13 and a 1 year high of $23.12.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, August 5th. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The firm had revenue of $356.70 million during the quarter, compared to the consensus estimate of $329.67 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate that Mueller Water Products, Inc. will post 0.93 EPS for the current year.

Mueller Water Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th will be given a dividend of $0.067 per share. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.27 annualized dividend and a dividend yield of 1.24%. Mueller Water Products’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling

In related news, Director Christine Ortiz sold 8,800 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the completion of the transaction, the director now directly owns 34,699 shares of the company’s stock, valued at approximately $691,898.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.55, for a total value of $221,755.05. Following the sale, the director now owns 102,792 shares in the company, valued at approximately $2,112,375.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $19.94, for a total transaction of $175,472.00. Following the transaction, the director now directly owns 34,699 shares of the company’s stock, valued at $691,898.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,869 shares of company stock worth $5,141,842 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MWA shares. Royal Bank of Canada increased their price target on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Mueller Water Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. TD Cowen lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating and upped their target price for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. Finally, Oppenheimer upped their price objective on Mueller Water Products from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.60.

About Mueller Water Products

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.