Gabelli Funds LLC Sells 53,668 Shares of Mueller Water Products $MWA

Key Points

• Gabelli Funds LLC sold 53,668 shares of Mueller Water Products, decreasing its stake by 7.3% to a total of 684,597 shares, valued at approximately $17.4 million.
• The stock was reported at a price of $27.13, with a fifty-two week high of $28.58 and a low of $19.23.
• Mueller Water Products declared a quarterly dividend of $0.067 per share, resulting in an annualized dividend yield of 1.0%.

Gabelli Funds LLC trimmed its stake in Mueller Water Products (NYSE:MWA - Free Report) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 684,597 shares of the industrial products company's stock after selling 53,668 shares during the quarter. Gabelli Funds LLC owned 0.44% of Mueller Water Products worth $17,402,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MWA. Optiver Holding B.V. bought a new stake in Mueller Water Products in the fourth quarter worth $29,000. Tower Research Capital LLC TRC boosted its holdings in Mueller Water Products by 171.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company's stock worth $40,000 after acquiring an additional 1,113 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in Mueller Water Products by 73.1% in the first quarter. Byrne Asset Management LLC now owns 1,558 shares of the industrial products company's stock worth $40,000 after acquiring an additional 658 shares in the last quarter. Olde Wealth Management LLC bought a new stake in Mueller Water Products in the first quarter worth $42,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Mueller Water Products by 184.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company's stock worth $43,000 after acquiring an additional 1,104 shares in the last quarter. 91.68% of the stock is owned by institutional investors.

Mueller Water Products Stock Up 0.9%

MWA stock opened at $27.13 on Wednesday. Mueller Water Products has a fifty-two week low of $19.23 and a fifty-two week high of $28.58. The business's 50-day moving average is $25.09 and its two-hundred day moving average is $25.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.56 and a current ratio of 3.86. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.42 and a beta of 1.18.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $366.82 million. During the same period in the prior year, the company posted $0.32 EPS. The firm's 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, analysts forecast that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th were paid a $0.067 dividend. 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 27.66%.

Insider Transactions at Mueller Water Products

In other news, CAO Suzanne G. Smith sold 8,621 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $26.37, for a total value of $227,335.77. Following the transaction, the chief accounting officer owned 761 shares of the company's stock, valued at $20,067.57. This trade represents a 91.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian C. Healy acquired 1,110 shares of the firm's stock in a transaction dated 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 purchase, the director directly owned 15,730 shares of the company's stock, valued at approximately $389,160.20. This trade represents a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Mueller Water Products from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Mueller Water Products has a consensus rating of "Hold" and an average price target of $28.33.

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.

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