Jupiter Asset Management Ltd. Lowers Holdings in Mueller Water Products (NYSE:MWA)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Mueller Water Products by 34.2% during the first quarter, owning approximately 0.05% of the company worth $2.06 million after selling 42,108 shares.
• Multiple hedge funds have adjusted their positions, with Envestnet Asset Management increasing its stake by 354.3%, now owning 318,939 shares valued at $8.1 million.
• Mueller Water Products announced a quarterly dividend of $0.067 per share, resulting in an annualized yield of 1.1%, with a payout ratio of 29.67%.

Jupiter Asset Management Ltd. cut its stake in shares of Mueller Water Products (NYSE:MWA - Free Report) by 34.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,943 shares of the industrial products company's stock after selling 42,108 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.05% of Mueller Water Products worth $2,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC increased its position 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 purchasing an additional 658 shares during the last quarter. Xponance Inc. lifted its position in Mueller Water Products by 6.0% during the first quarter. Xponance Inc. now owns 11,726 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 660 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Mueller Water Products by 1.3% in the 1st quarter. Summit Global Investments now owns 54,437 shares of the industrial products company's stock valued at $1,384,000 after acquiring an additional 687 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Mueller Water Products by 3.0% in the 4th quarter. Baird Financial Group Inc. now owns 24,702 shares of the industrial products company's stock valued at $556,000 after acquiring an additional 722 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Mueller Water Products by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 16,255 shares of the industrial products company's stock valued at $366,000 after acquiring an additional 768 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Mueller Water Products from a "hold" rating to a "buy" rating in a report 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, Mueller Water Products currently has a consensus rating of "Hold" and a consensus price target of $26.25.

Insider Buying and Selling

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

Mueller Water Products Trading Up 5.1%

Shares of NYSE:MWA traded up $1.21 during trading on Tuesday, reaching $25.15. 3,901,236 shares of the company were exchanged, compared to its average volume of 1,336,395. The firm has a market capitalization of $3.94 billion, a PE ratio of 26.76, a P/E/G ratio of 1.30 and a beta of 1.18. The business's fifty day simple moving average is $24.42 and its 200-day simple moving average is $25.05. Mueller Water Products has a 12-month low of $19.22 and a 12-month high of $28.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.79 and a quick ratio of 2.49.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its earnings results on Monday, August 4th. The industrial products company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The company had revenue of $380.30 million for the quarter, compared to analysts' expectations of $366.82 million. Mueller Water Products had a return on equity of 21.45% and a net margin of 10.67%. The business's revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. On average, research analysts anticipate that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.067 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Water Products's dividend payout ratio (DPR) is currently 29.67%.

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.