Bank of America Corp DE Reduces Holdings in Mueller Water Products, Inc. (NYSE:MWA)

Bank of America Corp DE trimmed its position in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 646,444 shares of the industrial products company's stock after selling 65,278 shares during the quarter. Bank of America Corp DE owned about 0.41% of Mueller Water Products worth $14,545,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Mueller Water Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 45,215 shares of the industrial products company's stock valued at $1,017,000 after buying an additional 379 shares during the period. Oppenheimer & Co. Inc. increased its stake in Mueller Water Products by 1.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 42,929 shares of the industrial products company's stock worth $966,000 after acquiring an additional 581 shares during the last quarter. Blue Trust Inc. raised its position in Mueller Water Products by 14.8% in the fourth quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company's stock valued at $126,000 after purchasing an additional 726 shares during the period. Summit Investment Advisors Inc. raised its position in 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 valued at $366,000 after purchasing an additional 768 shares during the period. Finally, Counterpoint Mutual Funds LLC lifted its stake in shares of Mueller Water Products by 6.9% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 13,233 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 858 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company's stock.

Mueller Water Products Trading Up 2.0%

Shares of NYSE MWA traded up $0.49 during trading on Tuesday, reaching $25.06. The stock had a trading volume of 1,210,445 shares, compared to its average volume of 1,567,492. The business's 50-day moving average price is $25.26 and its 200-day moving average price is $24.85. Mueller Water Products, Inc. has a fifty-two week low of $17.09 and a fifty-two week high of $28.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.83. The company has a market cap of $3.93 billion, a P/E ratio of 29.14, a PEG ratio of 1.43 and a beta of 1.24.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $364.30 million for the quarter, compared to analyst estimates of $352.30 million. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts predict that Mueller Water Products, Inc. will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.067 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.27 dividend on an annualized basis and a yield of 1.07%. Mueller Water Products's dividend payout ratio (DPR) is presently 28.57%.

Insiders Place Their Bets

In related news, Director Brian C. Healy acquired 1,085 shares of the business's stock in a transaction dated Friday, May 16th. The shares were acquired at an average price of $25.32 per share, with a total value of $27,472.20. Following the completion of the transaction, the director now owns 14,620 shares of the company's stock, valued at $370,178.40. The trade was a 8.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Slobodow sold 7,376 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $24.57, for a total value of $181,228.32. The disclosure for this sale can be found here. Insiders have sold a total of 35,600 shares of company stock worth $914,076 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price objective on Mueller Water Products from $25.00 to $29.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Wall Street Zen raised shares of Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mueller Water Products currently has a consensus rating of "Hold" and a consensus price target of $26.25.

Mueller Water Products Company 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.