Federated Hermes Inc. Purchases 54,355 Shares of Mueller Water Products (NYSE:MWA)

Key Points

• Federated Hermes Inc. increased its holdings in Mueller Water Products by 6.3%, adding 54,355 shares, bringing its total to approximately 915,493 shares valued at $23.27 million.
• Mueller Water Products' stock decreased by 2.1% to $24.23 and its market capitalization is now $3.80 billion.
• The company reported an earnings per share of $0.34 for the last quarter, surpassing analysts' expectations of $0.32, with a revenue increase of 3.1% year over year.

Federated Hermes Inc. raised its holdings in Mueller Water Products (NYSE:MWA - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 915,493 shares of the industrial products company's stock after buying an additional 54,355 shares during the period. Federated Hermes Inc. owned about 0.58% of Mueller Water Products worth $23,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Mueller Water Products by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 16,954,587 shares of the industrial products company's stock worth $381,478,000 after acquiring an additional 378,356 shares during the period. First Trust Advisors LP increased its stake in Mueller Water Products by 16.7% during the 4th quarter. First Trust Advisors LP now owns 4,174,938 shares of the industrial products company's stock worth $93,936,000 after acquiring an additional 596,956 shares during the period. Invesco Ltd. increased its stake in Mueller Water Products by 79.7% during the 4th quarter. Invesco Ltd. now owns 4,014,131 shares of the industrial products company's stock worth $90,318,000 after acquiring an additional 1,780,366 shares during the period. Principal Financial Group Inc. increased its stake in Mueller Water Products by 21.1% during 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 period. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Mueller Water Products by 7.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,248,990 shares of the industrial products company's stock worth $73,102,000 after acquiring an additional 220,025 shares during the period. Institutional investors own 91.68% of the company's stock.

Mueller Water Products Stock Down 2.1%

Mueller Water Products stock traded down $0.53 during midday trading on Friday, reaching $24.23. The stock had a trading volume of 1,475,125 shares, compared to its average volume of 1,248,570. The company has a market capitalization of $3.80 billion, a P/E ratio of 26.63, a PEG ratio of 1.34 and a beta of 1.18. The company has a current ratio of 3.79, a quick ratio of 2.49 and a debt-to-equity ratio of 0.51. Mueller Water Products has a 12 month low of $18.55 and a 12 month high of $28.58. The company has a fifty day moving average price of $24.43 and a two-hundred day moving average price of $25.02.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its earnings results on Monday, May 5th. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. Mueller Water Products had a return on equity of 21.31% and a net margin of 10.48%. The firm had revenue of $364.30 million for the quarter, compared to the consensus estimate of $352.30 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company's revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts expect that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.067 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.27 dividend on an annualized basis and a yield of 1.1%. Mueller Water Products's payout ratio is presently 28.57%.

Insiders Place Their Bets

In other Mueller Water Products news, Director Brian Slobodow sold 7,376 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $24.57, for a total transaction of $181,228.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian C. Healy purchased 1,110 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was purchased at an average cost of $24.74 per share, for a total transaction of $27,461.40. Following the acquisition, the director owned 15,730 shares of the company's stock, valued at approximately $389,160.20. This trade represents a 7.59% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently 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.