Assenagon Asset Management S.A. Raises Stock Position in MUELLER WATER PRODUCTS $MWA

Key Points

• Assenagon Asset Management S.A. raised its stake in MUELLER WATER PRODUCTS by 26.6% in Q2, increasing its holdings to 222,610 shares, valued at approximately $5.35 million.
• Insider activity includes purchases and sales, with Director Brian C. Healy increasing his holdings by 1,110 shares, while CAO Suzanne G. Smith sold 1,288 shares, representing a 62.80% decrease in her ownership.
• The company recently declared a quarterly dividend of $0.067 per share, yielding approximately 1.1%, with a payout ratio of 28.72% and positive revenue growth of 6.6% year-over-year.

Assenagon Asset Management S.A. boosted its position in shares of MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 26.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,610 shares of the industrial products company's stock after acquiring an additional 46,717 shares during the period. Assenagon Asset Management S.A. owned 0.14% of MUELLER WATER PRODUCTS worth $5,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MWA. Byrne Asset Management LLC grew its stake in MUELLER WATER PRODUCTS by 73.1% in the 1st quarter. Byrne Asset Management LLC now owns 1,558 shares of the industrial products company's stock worth $40,000 after buying an additional 658 shares in the last quarter. Olde Wealth Management LLC purchased a new position in MUELLER WATER PRODUCTS in the 1st quarter worth approximately $42,000. Nisa Investment Advisors LLC grew its stake in MUELLER WATER PRODUCTS by 184.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company's stock worth $43,000 after buying an additional 1,104 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in MUELLER WATER PRODUCTS by 177.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,635 shares of the industrial products company's stock worth $67,000 after buying an additional 1,686 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in MUELLER WATER PRODUCTS in the 1st quarter worth approximately $73,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Insider Activity at MUELLER WATER PRODUCTS

In other news, Director Brian C. Healy purchased 1,110 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was bought at an average cost of $24.74 per share, for a total transaction of $27,461.40. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Suzanne G. Smith sold 1,288 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $26.91, for a total transaction of $34,660.08. Following the sale, the chief accounting officer owned 763 shares of the company's stock, valued at $20,532.33. This represents a 62.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,664 shares of company stock worth $909,819 in the last three months. 1.10% of the stock is owned by insiders.

MUELLER WATER PRODUCTS Trading Down 1.5%

Shares of MWA opened at $24.94 on Thursday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.56 and a current ratio of 3.86. MUELLER WATER PRODUCTS has a fifty-two week low of $20.94 and a fifty-two week high of $28.58. The firm has a 50 day moving average price of $25.69 and a 200-day moving average price of $25.30.

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 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). MUELLER WATER PRODUCTS had a net margin of 10.67% and a return on equity of 20.89%. The firm had revenue of $380.30 million for the quarter, compared to the consensus estimate of $366.82 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 6.6% compared to the same quarter last year. MUELLER WATER PRODUCTS has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that MUELLER WATER PRODUCTS will post 1.24 earnings per share for the current year.

MUELLER WATER PRODUCTS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 12th were issued a dividend of $0.067 per share. 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%.

Wall Street Analysts Forecast Growth

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

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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