Gamco Investors INC. ET AL raised its position in shares of Mueller Water Products (NYSE:MWA) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,366,406 shares of the company’s stock after buying an additional 101,601 shares during the period. Gamco Investors INC. ET AL’s holdings in Mueller Water Products were worth $18,187,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MWA. Emerald Acquisition Ltd. acquired a new position in shares of Mueller Water Products during the second quarter worth about $471,000. Lebenthal Lisanti Capital Growth LLC acquired a new position in shares of Mueller Water Products during the second quarter worth about $1,193,000. Airain ltd acquired a new position in shares of Mueller Water Products during the second quarter worth about $276,000. Vanguard Group Inc. raised its position in shares of Mueller Water Products by 4.5% in the second quarter. Vanguard Group Inc. now owns 10,945,574 shares of the company’s stock worth $124,999,000 after buying an additional 468,074 shares during the period. Finally, BlackRock Advisors LLC raised its position in shares of Mueller Water Products by 46.7% in the second quarter. BlackRock Advisors LLC now owns 106,866 shares of the company’s stock worth $1,220,000 after buying an additional 34,019 shares during the period. Institutional investors and hedge funds own 84.26% of the company’s stock.
Shares of Mueller Water Products (NYSE:MWA) traded down 0.750% on Friday, reaching $12.575. 416,305 shares of the company were exchanged. Mueller Water Products has a 12-month low of $8.29 and a 12-month high of $14.20. The firm has a market capitalization of $2.04 billion, a PE ratio of 31.916 and a beta of 1.35. The stock’s 50-day moving average is $13.15 and its 200 day moving average is $12.69.
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Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Mueller Water Products had a net margin of 6.06% and a return on equity of 19.52%. The company had revenue of $167.20 million for the quarter, compared to the consensus estimate of $181.36 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that Mueller Water Products will post $0.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 21st. Stockholders of record on Friday, February 10th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, February 8th. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 1.26%. Mueller Water Products’s dividend payout ratio is currently 41.03%.
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MWA has been the subject of a number of research reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Mueller Water Products in a report on Monday, November 28th. Zacks Investment Research upgraded shares of Mueller Water Products from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday, January 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.30.
In other news, Director Jerry W. Kolb sold 34,341 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $12.98, for a total transaction of $445,746.18. Following the sale, the director now directly owns 23,855 shares in the company, valued at $309,637.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Evan Hart sold 150,000 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $13.16, for a total value of $1,974,000.00. Following the sale, the chief financial officer now owns 270,065 shares in the company, valued at $3,554,055.40. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
Mueller Water Products Company Profile
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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