GSA Capital Partners LLP Takes $1.06 Million Position in Mueller Water Products, Inc. (NYSE:MWA)

GSA Capital Partners LLP bought a new position in shares of Mueller Water Products, Inc. (NYSE:MWA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,703 shares of the industrial products company’s stock, valued at approximately $1,057,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of Mueller Water Products by 8,617.9% during the 1st quarter. Russell Investments Group Ltd. now owns 21,882 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 21,631 shares during the period. Avantax Advisory Services Inc. increased its position in shares of Mueller Water Products by 81.6% in the first quarter. Avantax Advisory Services Inc. now owns 24,067 shares of the industrial products company’s stock worth $387,000 after acquiring an additional 10,817 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Mueller Water Products by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 27,904 shares of the industrial products company’s stock valued at $449,000 after acquiring an additional 2,197 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Mueller Water Products by 19.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 191,210 shares of the industrial products company’s stock valued at $3,077,000 after acquiring an additional 31,739 shares in the last quarter. Finally, Chesapeake Capital Corp IL boosted its position in Mueller Water Products by 49.2% during the 1st quarter. Chesapeake Capital Corp IL now owns 17,700 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 5,837 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Stock Performance

Mueller Water Products stock opened at $24.31 on Friday. Mueller Water Products, Inc. has a 52 week low of $13.08 and a 52 week high of $26.28. 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 stock has a market cap of $3.79 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34. The stock has a 50 day moving average of $22.09 and a 200-day moving average of $20.09.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $348.20 million for the quarter, compared to the consensus estimate of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts expect that Mueller Water Products, Inc. will post 1.17 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.067 per share. The ex-dividend date is Friday, November 8th. This represents a $0.27 annualized dividend and a yield of 1.10%. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.06. Mueller Water Products’s dividend payout ratio is presently 36.99%.

Insider Transactions at Mueller Water Products

In related news, Director Thomas J. Hansen sold 10,791 shares of the company’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 transaction of $221,755.05. Following the sale, the director now directly owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. This represents a 9.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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