Allianz Asset Management GmbH Decreases Holdings in Mueller Water Products $MWA

Key Points

• Allianz Asset Management GmbH reduced its holdings in Mueller Water Products by 3.2%, now owning over 3.1 million shares valued at approximately $74.8 million.
• Other institutional investors, such as the New York State Teachers Retirement System, increased their positions significantly, with a 45.2% rise during the second quarter.
• Recent transactions by insiders included a substantial sale from CAO Suzanne G. Smith, who sold 8,621 shares at around $26.37 each, while Director Brian C. Healy increased his ownership by purchasing 1,070 shares at $25.78.

Allianz Asset Management GmbH trimmed its holdings in shares of Mueller Water Products (NYSE:MWA - Free Report) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,110,011 shares of the industrial products company's stock after selling 102,839 shares during the quarter. Allianz Asset Management GmbH owned 1.98% of Mueller Water Products worth $74,765,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. New York State Teachers Retirement System raised its position in shares of Mueller Water Products by 45.2% during the 2nd quarter. New York State Teachers Retirement System now owns 80,660 shares of the industrial products company's stock valued at $1,939,000 after buying an additional 25,095 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Mueller Water Products by 2.1% during the 2nd quarter. Axxcess Wealth Management LLC now owns 37,586 shares of the industrial products company's stock valued at $904,000 after buying an additional 783 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Mueller Water Products by 5.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,953 shares of the industrial products company's stock valued at $287,000 after buying an additional 661 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Mueller Water Products by 1.1% during the 2nd quarter. Yousif Capital Management LLC now owns 59,034 shares of the industrial products company's stock valued at $1,419,000 after buying an additional 618 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Mueller Water Products by 8.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 282,878 shares of the industrial products company's stock valued at $6,800,000 after buying an additional 22,718 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mueller Water Products news, CAO Suzanne G. Smith sold 8,621 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $26.37, for a total value of $227,335.77. Following the transaction, the chief accounting officer directly owned 761 shares in the company, valued at $20,067.57. This represents a 91.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian C. Healy bought 1,070 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of $25.78 per share, for a total transaction of $27,584.60. Following the completion of the purchase, the director directly owned 16,800 shares in the company, valued at approximately $433,104. This represents a 6.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 34,664 shares of company stock worth $909,819 in the last three months. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MWA shares. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Water Products in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.33.

Mueller Water Products Price Performance

Shares of MWA stock opened at $24.96 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56. The company has a market capitalization of $3.90 billion, a P/E ratio of 26.55, a P/E/G ratio of 1.19 and a beta of 1.18. The company's 50-day simple moving average is $25.86 and its two-hundred day simple moving average is $25.13. Mueller Water Products has a one year low of $21.35 and a one year high of $28.58.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its earnings results on Thursday, February 24th. The industrial products company reported $0.11 EPS for the quarter. The business had revenue of $237.40 million for the quarter. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. As a group, equities analysts anticipate 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. Shareholders of record on Tuesday, August 12th were paid a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, August 12th. Mueller Water Products's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding MWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Water Products (NYSE:MWA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.