Boyar Asset Management Inc. Has $1.57 Million Stake in Mueller Water Products (NYSE:MWA)

Boyar Asset Management Inc. reduced its position in shares of Mueller Water Products (NYSE:MWA) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,841 shares of the industrial products company’s stock after selling 5,888 shares during the quarter. Mueller Water Products accounts for 1.1% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Boyar Asset Management Inc.’s holdings in Mueller Water Products were worth $1,572,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MWA. Spire Wealth Management grew its holdings in shares of Mueller Water Products by 5,488.0% during the first quarter. Spire Wealth Management now owns 27,940 shares of the industrial products company’s stock valued at $710,000 after buying an additional 27,440 shares in the last quarter. Balboa Wealth Partners boosted its position in Mueller Water Products by 14.0% during the 1st quarter. Balboa Wealth Partners now owns 14,795 shares of the industrial products company’s stock worth $376,000 after acquiring an additional 1,820 shares during the period. Asset Management One Co. Ltd. grew its stake in Mueller Water Products by 14.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 172,502 shares of the industrial products company’s stock valued at $4,385,000 after acquiring an additional 22,279 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Mueller Water Products in the 1st quarter valued at about $217,000. Finally, ORG Partners LLC acquired a new position in shares of Mueller Water Products in the 1st quarter valued at about $116,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Price Performance

MWA opened at $23.69 on Thursday. The stock has a fifty day moving average price of $24.83 and a 200 day moving average price of $24.70. The company has a current ratio of 3.79, a quick ratio of 2.49 and a debt-to-equity ratio of 0.51. Mueller Water Products has a 1 year low of $17.30 and a 1 year high of $28.58. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.30 and a beta of 1.21.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Monday, May 5th. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $364.30 million during the quarter, compared to the consensus estimate of $352.30 million. Mueller Water Products had a return on equity of 21.31% and a net margin of 10.48%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Analysts forecast that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were given a $0.067 dividend. This represents a $0.27 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, May 12th. Mueller Water Products’s dividend payout ratio is 28.57%.

Insider Transactions at Mueller Water Products

In related news, Director Brian C. Healy bought 1,085 shares of Mueller Water Products stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $25.32 per share, for a total transaction of $27,472.20. Following the acquisition, the director now owns 14,620 shares in the company, valued at $370,178.40. This trade represents a 8.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian Slobodow sold 7,376 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $24.57, for a total value of $181,228.32. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Sunday, June 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Mueller Water Products presently has an average rating of “Hold” and an average price target of $26.25.

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.