Amalgamated Bank Acquires 39,269 Shares of Mueller Water Products (NYSE:MWA)

Amalgamated Bank grew its position in shares of Mueller Water Products (NYSE:MWA - Free Report) by 741.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,567 shares of the industrial products company's stock after buying an additional 39,269 shares during the quarter. Amalgamated Bank's holdings in Mueller Water Products were worth $1,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MWA. Invesco Ltd. raised its holdings in shares of Mueller Water Products by 79.7% in the 4th quarter. Invesco Ltd. now owns 4,014,131 shares of the industrial products company's stock worth $90,318,000 after purchasing an additional 1,780,366 shares during the period. Norges Bank bought a new stake in shares of Mueller Water Products in the 4th quarter worth approximately $20,996,000. Ameriprise Financial Inc. grew its stake in Mueller Water Products by 49.4% in the 4th quarter. Ameriprise Financial Inc. now owns 2,688,962 shares of the industrial products company's stock valued at $60,502,000 after buying an additional 888,591 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Mueller Water Products by 514.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 970,055 shares of the industrial products company's stock valued at $21,826,000 after buying an additional 812,127 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Mueller Water Products by 55.1% in the 4th quarter. American Century Companies Inc. now owns 2,056,632 shares of the industrial products company's stock valued at $46,274,000 after buying an additional 730,442 shares in the last quarter. Institutional investors own 91.68% of the company's stock.

Mueller Water Products Stock Performance

Mueller Water Products stock traded down $0.15 during mid-day trading on Friday, reaching $25.14. The company's stock had a trading volume of 616,889 shares, compared to its average volume of 1,585,065. The firm's fifty day moving average price is $24.54 and its two-hundred day moving average price is $24.76. The company has a market capitalization of $3.94 billion, a P/E ratio of 27.63, a PEG ratio of 1.37 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.49 and a current ratio of 3.79. Mueller Water Products has a 12-month low of $18.55 and a 12-month high of $28.58.

Mueller Water Products (NYSE:MWA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $364.30 million during the quarter, compared to analyst estimates of $352.30 million. Mueller Water Products had a net margin of 10.48% and a return on equity of 21.31%. The business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. Sell-side analysts predict that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were given a dividend of $0.067 per share. The ex-dividend date was Monday, May 12th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.07%. Mueller Water Products's dividend payout ratio (DPR) is currently 29.67%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.25.

Insiders Place Their Bets

In related news, Director Brian Slobodow sold 7,376 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $24.57, for a total value of $181,228.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian C. Healy bought 1,110 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was bought at an average price of $24.74 per share, with a total value of $27,461.40. Following the completion of the transaction, the director directly owned 15,730 shares of the company's stock, valued at $389,160.20. This represents a 7.59% increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

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.