State of New Jersey Common Pension Fund D Has $2.06 Million Holdings in Mueller Water Products, Inc. (NYSE:MWA)

State of New Jersey Common Pension Fund D decreased its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,953 shares of the industrial products company’s stock after selling 7,349 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Mueller Water Products were worth $2,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MWA. Gabelli Funds LLC raised its stake in shares of Mueller Water Products by 3.7% in the 1st quarter. Gabelli Funds LLC now owns 757,810 shares of the industrial products company’s stock valued at $12,193,000 after purchasing an additional 27,000 shares during the period. Assenagon Asset Management S.A. lifted its stake in Mueller Water Products by 194.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,033,939 shares of the industrial products company’s stock valued at $18,528,000 after acquiring an additional 682,740 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Mueller Water Products by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 694,469 shares of the industrial products company’s stock worth $11,175,000 after acquiring an additional 83,567 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake 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 worth $3,077,000 after acquiring an additional 31,739 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Mueller Water Products in the second quarter valued at approximately $3,077,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Mueller Water Products Trading Down 0.5 %

Mueller Water Products stock opened at $24.31 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. The stock has a 50-day simple moving average of $22.09 and a 200 day simple moving average of $20.09. The stock has a market capitalization of $3.79 billion, a P/E ratio of 33.30, a PEG ratio of 1.42 and a beta of 1.34. Mueller Water Products, Inc. has a 52 week low of $13.08 and a 52 week high of $26.28.

Mueller Water Products (NYSE:MWA) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. Mueller Water Products had a return on equity of 19.71% and a net margin of 8.82%. The business had revenue of $348.20 million for the quarter, compared to analyst estimates of $324.80 million. During the same period in the previous year, the firm earned $0.19 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that Mueller Water Products, Inc. will post 1.17 earnings per share 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. Shareholders of record on Friday, November 8th will be given a dividend of $0.067 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.06. This represents a $0.27 annualized dividend and a yield of 1.10%. Mueller Water Products’s dividend payout ratio (DPR) is 36.99%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating and raised their target price for the company from $19.00 to $20.00 in a research report on Friday, August 9th. StockNews.com downgraded Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on 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. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $27.00 price target (up previously from $26.00) on shares of Mueller Water Products in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Mueller Water Products currently has an average rating of “Hold” and an average price target of $22.20.

Insider Transactions at Mueller Water Products

In related news, Director Thomas J. Hansen sold 10,791 shares of Mueller Water Products 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 completion of the sale, the director now directly owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. This trade represents a 9.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Mueller Water Products Company 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.