Ameriprise Financial Inc. Decreases Position in MUELLER WATER PRODUCTS $MWA

Key Points

• Ameriprise Financial Inc. has reduced its stake in Mueller Water Products by 8.7%, now owning approximately 1.57% of the company worth $62.4 million after selling 234,379 shares in the first quarter.
• Other institutional investors, such as Vanguard Group and Allianz Asset Management, have increased their holdings in Mueller Water Products, with Vanguard raising its stake by 16.8% and Allianz by 95.4% during the same period.
• Mueller Water Products' latest quarterly earnings missed analysts' expectations, reporting $0.34 earnings per share, while the firm also announced a quarterly dividend of $0.067 per share, representing an annual yield of 1.0%.

Ameriprise Financial Inc. trimmed its stake in MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,454,583 shares of the industrial products company's stock after selling 234,379 shares during the period. Ameriprise Financial Inc. owned approximately 1.57% of MUELLER WATER PRODUCTS worth $62,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MWA. Vanguard Group Inc. raised its holdings in MUELLER WATER PRODUCTS by 16.8% during the 1st quarter. Vanguard Group Inc. now owns 19,795,482 shares of the industrial products company's stock valued at $503,201,000 after buying an additional 2,840,895 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in MUELLER WATER PRODUCTS by 66.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 5,401,086 shares of the industrial products company's stock valued at $137,296,000 after acquiring an additional 2,152,096 shares during the last quarter. Invesco Ltd. raised its stake in shares of MUELLER WATER PRODUCTS by 21.6% in the first quarter. Invesco Ltd. now owns 4,880,108 shares of the industrial products company's stock valued at $124,052,000 after acquiring an additional 865,977 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of MUELLER WATER PRODUCTS by 21.1% in the 1st quarter. Principal Financial Group Inc. now owns 3,651,340 shares of the industrial products company's stock worth $92,817,000 after acquiring an additional 636,331 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of MUELLER WATER PRODUCTS by 95.4% in the 1st quarter. Allianz Asset Management GmbH now owns 3,212,850 shares of the industrial products company's stock worth $81,671,000 after acquiring an additional 1,568,247 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company's stock.

Insider Activity

In related news, CAO Suzanne G. Smith sold 8,621 shares of MUELLER WATER PRODUCTS stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $26.37, for a total transaction of $227,335.77. Following the transaction, the chief accounting officer directly owned 761 shares of the company's stock, valued at $20,067.57. This trade represents a 91.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas J. Hansen sold 24,005 shares of the company's stock in a transaction 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 sale, the director owned 86,163 shares of the company's stock, valued at approximately $2,253,162.45. This represents a 21.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of MUELLER WATER PRODUCTS from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, MUELLER WATER PRODUCTS currently has a consensus rating of "Hold" and a consensus target price of $28.33.

MUELLER WATER PRODUCTS Trading Up 0.9%

MWA opened at $27.13 on Wednesday. The company has a quick ratio of 2.56, a current ratio of 3.86 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average is $25.09 and its two-hundred day moving average is $25.30. The company has a market capitalization of $4.24 billion, a P/E ratio of 28.86, a PEG ratio of 1.42 and a beta of 1.18. MUELLER WATER PRODUCTS has a 52 week low of $19.23 and a 52 week high of $28.58.

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

MUELLER WATER PRODUCTS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th were given a dividend of $0.067 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.27 dividend on an annualized basis and a yield of 1.0%. MUELLER WATER PRODUCTS's dividend payout ratio (DPR) is 28.72%.

About MUELLER WATER PRODUCTS

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.

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