10,000 Shares in Mueller Water Products $MWA Acquired by Corient IA LLC

Key Points

• Corient IA LLC acquired a new position in Mueller Water Products, purchasing 10,000 shares valued at approximately $254,000 in the 1st quarter.
• Institutional investors now own 91.68% of Mueller Water Products shares, reflecting strong interest from various hedge funds and advisory services.
• Mueller Water Products recently announced a quarterly dividend of $0.067 per share, yielding about 1.0% annually, with an ex-dividend date on August 12th.

Corient IA LLC acquired a new position in shares of Mueller Water Products (NYSE:MWA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the industrial products company's stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MWA. Byrne Asset Management LLC lifted its stake in shares of Mueller Water Products by 73.1% in the first quarter. Byrne Asset Management LLC now owns 1,558 shares of the industrial products company's stock worth $40,000 after acquiring an additional 658 shares in the last quarter. Xponance Inc. lifted its stake in shares of Mueller Water Products by 6.0% in the first quarter. Xponance Inc. now owns 11,726 shares of the industrial products company's stock worth $298,000 after acquiring an additional 660 shares in the last quarter. Summit Global Investments lifted its stake in shares of Mueller Water Products by 1.3% in the first quarter. Summit Global Investments now owns 54,437 shares of the industrial products company's stock worth $1,384,000 after acquiring an additional 687 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Mueller Water Products by 3.0% in the fourth quarter. Baird Financial Group Inc. now owns 24,702 shares of the industrial products company's stock worth $556,000 after acquiring an additional 722 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Mueller Water Products by 5.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 16,255 shares of the industrial products company's stock worth $366,000 after acquiring an additional 768 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Insider Activity

In related news, Director Thomas J. Hansen sold 24,005 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $26.15, for a total value of $627,730.75. Following the completion of the transaction, the director directly owned 86,163 shares of the company's stock, valued at $2,253,162.45. This represents a 21.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian C. Healy acquired 1,110 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average cost of $24.74 per share, with a total value of $27,461.40. Following the completion of the acquisition, the director directly owned 15,730 shares in the company, valued at approximately $389,160.20. This represents a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $28.33.

Mueller Water Products Stock Up 4.7%

Mueller Water Products stock traded up $1.2120 during midday trading on Friday, hitting $27.1820. The stock had a trading volume of 1,035,434 shares, compared to its average volume of 1,790,021. The stock has a market cap of $4.25 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.39 and a beta of 1.18. The business has a fifty day moving average price of $24.86 and a 200 day moving average price of $25.30. Mueller Water Products has a 12 month low of $19.23 and a 12 month high of $28.58. The company has a current ratio of 3.86, a quick ratio of 2.56 and a debt-to-equity ratio of 0.48.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its earnings results on Monday, August 4th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $380.30 million for the quarter, compared to the consensus estimate of $366.82 million. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. Mueller Water Products has set its FY 2025 guidance at EPS. Research analysts predict that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.067 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.27 annualized dividend and a dividend yield of 1.0%. Mueller Water Products's dividend payout ratio is 28.72%.

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.