Bank of New York Mellon Corp Acquires New Holdings in Mueller Water Products $MWA

Key Points

• Bank of New York Mellon acquired 1.10 million Mueller Water Products shares worth approximately $28.5 million, giving it a 0.71% stake. Institutional investors collectively own 91.68% of the company.
• Mueller Water Products exceeded quarterly expectations, reporting $0.50 earnings per share versus a $0.39 estimate and revenue of $395.9 million, up 4.1% year over year.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $30.20 price target. The company also maintains a quarterly dividend of $0.07 per share, equivalent to a 1.1% annual yield.

Bank of New York Mellon Corp bought a new position in Mueller Water Products (NYSE:MWA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,103,205 shares of the industrial products company's stock, valued at approximately $28,496,000. Bank of New York Mellon Corp owned about 0.71% of Mueller Water Products as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MWA. State Street Corp lifted its stake in shares of Mueller Water Products by 4.2% in the fourth quarter. State Street Corp now owns 6,165,849 shares of the industrial products company's stock worth $146,871,000 after buying an additional 250,461 shares during the last quarter. First Trust Advisors LP raised its holdings in Mueller Water Products by 34.0% in the 1st quarter. First Trust Advisors LP now owns 6,036,679 shares of the industrial products company's stock worth $165,948,000 after acquiring an additional 1,530,193 shares during the period. Dimensional Fund Advisors LP raised its holdings in Mueller Water Products by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,613,397 shares of the industrial products company's stock worth $86,075,000 after acquiring an additional 22,056 shares during the period. Principal Financial Group Inc. lifted its position in Mueller Water Products by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 3,262,684 shares of the industrial products company's stock worth $77,717,000 after acquiring an additional 37,148 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Mueller Water Products by 6.0% during the 4th quarter. Franklin Resources Inc. now owns 3,241,253 shares of the industrial products company's stock worth $77,207,000 after acquiring an additional 182,905 shares during the last quarter. Institutional investors own 91.68% of the company's stock.

Insider Activity

In related news, Director Brian C. Healy bought 1,183 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was acquired at an average price of $25.33 per share, for a total transaction of $29,965.39. Following the transaction, the director directly owned 24,946 shares of the company's stock, valued at $631,882.18. This represents a 4.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul Mcandrew sold 40,000 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $26.39, for a total value of $1,055,600.00. Following the completion of the sale, the chief executive officer directly owned 42,556 shares in the company, valued at approximately $1,123,052.84. This represents a 48.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

MWA has been the topic of several research analyst reports. Wall Street Zen raised Mueller Water Products from a "hold" rating to a "buy" rating in a research report on Monday, August 10th. Barclays began coverage on Mueller Water Products in a research report on Tuesday, June 30th. They set an "underweight" rating and a $25.00 price objective for the company. Robert W. Baird set a $35.00 target price on Mueller Water Products in a report on Friday, August 7th. Weiss Ratings raised Mueller Water Products from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada cut their price target on Mueller Water Products from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.20.

Mueller Water Products Price Performance

Shares of NYSE:MWA opened at $24.35 on Friday. The firm has a market capitalization of $3.80 billion, a PE ratio of 17.27, a PEG ratio of 1.07 and a beta of 1.03. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40. Mueller Water Products has a 1-year low of $22.74 and a 1-year high of $31.00. The business's 50 day moving average is $25.44 and its 200-day moving average is $26.83.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The firm had revenue of $395.90 million for the quarter, compared to the consensus estimate of $391.49 million. Mueller Water Products had a net margin of 15.02% and a return on equity of 23.55%. The business's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. Sell-side analysts predict that Mueller Water Products will post 1.53 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, August 10th. Mueller Water Products's dividend payout ratio is 19.86%.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company's portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company's operations are organized around two primary business segments.

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