Candriam S.C.A. Increases Stock Position in Mueller Water Products $MWA

Key Points

• Candriam S.C.A. increased its stake in Mueller Water Products by 7.9%, acquiring an additional 36,213 shares in the first quarter, bringing its total ownership to approximately 0.32% of the company's stock worth $12.57 million.
• Several hedge funds, including Vanguard Group and Allianz Asset Management, have significantly boosted their holdings in Mueller Water Products this quarter, indicating increasing institutional interest in the company.
• The company reported earnings per share of $0.34 for the last quarter, slightly missing expectations, yet generated revenues of $380.3 million, exceeding analyst estimates and showing a 6.6% increase year-over-year.

Candriam S.C.A. lifted its stake in shares of Mueller Water Products (NYSE:MWA - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 494,306 shares of the industrial products company's stock after purchasing an additional 36,213 shares during the quarter. Candriam S.C.A. owned 0.32% of Mueller Water Products worth $12,565,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MWA. LPL Financial LLC boosted its position in shares of Mueller Water Products by 24.8% in the fourth quarter. LPL Financial LLC now owns 17,727 shares of the industrial products company's stock valued at $399,000 after acquiring an additional 3,520 shares during the period. Wells Fargo & Company MN lifted its stake in Mueller Water Products by 44.4% in the 4th quarter. Wells Fargo & Company MN now owns 130,685 shares of the industrial products company's stock worth $2,940,000 after purchasing an additional 40,155 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Mueller Water Products by 6.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 70,206 shares of the industrial products company's stock valued at $1,580,000 after purchasing an additional 4,292 shares in the last quarter. Barclays PLC increased its holdings in shares of Mueller Water Products by 11.0% in the fourth quarter. Barclays PLC now owns 295,429 shares of the industrial products company's stock worth $6,647,000 after purchasing an additional 29,274 shares during the period. Finally, Mariner LLC purchased a new stake in shares of Mueller Water Products in the fourth quarter worth $203,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Mueller Water Products Price Performance

Shares of NYSE MWA traded up $1.2120 during mid-day trading on Friday, reaching $27.1820. 1,039,777 shares of the company were exchanged, compared to its average volume of 1,233,367. Mueller Water Products has a 52 week low of $19.23 and a 52 week high of $28.58. The company's 50 day moving average price is $24.94 and its 200 day moving average price is $25.29. The stock has a market capitalization of $4.25 billion, a PE ratio of 28.92, a PEG ratio of 1.44 and a beta of 1.18. The company has a quick ratio of 2.56, a current ratio of 3.86 and a debt-to-equity ratio of 0.48.

Mueller Water Products (NYSE:MWA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The industrial products company reported $0.34 earnings per share 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 analysts' expectations of $366.82 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Mueller Water Products has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Mueller Water Products will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Mueller Water Products from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold 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 $28.33.

Insider Activity

In related news, Director Brian C. Healy acquired 1,110 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were purchased at an average price of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the acquisition, the director owned 15,730 shares in the company, valued at approximately $389,160.20. This represents a 7.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas J. Hansen sold 24,005 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $26.15, for a total value of $627,730.75. Following the completion of the sale, the director directly owned 86,163 shares of the company's stock, valued at approximately $2,253,162.45. This trade represents a 21.79% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate 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.