Mueller Water Products, Inc. (NYSE:MWA) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in shares of Mueller Water Products, Inc. (NYSE:MWA) by 256.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,348 shares of the industrial products company’s stock after purchasing an additional 30,475 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mueller Water Products were worth $919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MWA. Vanguard Group Inc. raised its position in shares of Mueller Water Products by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 15,231,209 shares of the industrial products company’s stock valued at $245,070,000 after buying an additional 227,843 shares during the period. Gamco Investors INC. ET AL raised its position in Mueller Water Products by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 3,143,039 shares of the industrial products company’s stock valued at $50,571,000 after purchasing an additional 15,346 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Mueller Water Products by 399.0% in 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 purchasing an additional 2,369,055 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Mueller Water Products by 24.6% during the 2nd quarter. Millennium Management LLC now owns 1,999,869 shares of the industrial products company’s stock worth $35,838,000 after purchasing an additional 395,123 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Mueller Water Products by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,545 shares of the industrial products company’s stock worth $18,915,000 after purchasing an additional 61,122 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Mueller Water Products Stock Performance

NYSE:MWA opened at $24.41 on Wednesday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34. The company has a quick ratio of 2.31, a current ratio of 3.70 and a debt-to-equity ratio of 0.57. Mueller Water Products, Inc. has a 52 week low of $13.08 and a 52 week high of $26.28. The company has a fifty day simple moving average of $22.20 and a two-hundred day simple moving average of $20.21.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $348.20 million for the quarter, compared to the consensus estimate of $324.80 million. Mueller Water Products had a return on equity of 19.71% and a net margin of 8.82%. Mueller Water Products’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, equities analysts anticipate that Mueller Water Products, Inc. will post 1.17 earnings per share for the current fiscal year.

Mueller Water Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 8th will be paid a $0.067 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a yield of 1.10%. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.06. Mueller Water Products’s payout ratio is currently 36.99%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MWA. Royal Bank of Canada upped their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $27.00 price target (up from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. Finally, TD Cowen cut Mueller Water Products from a “buy” rating to a “hold” rating and lifted their price objective for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Mueller Water Products currently has a consensus rating of “Hold” and an average target price of $22.20.

Mueller Water Products 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.