Mackenzie Financial Corp Reduces Position in Mueller Water Products, Inc. (NYSE:MWA)

Mackenzie Financial Corp lessened its position in shares of Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 58.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,753 shares of the industrial products company's stock after selling 13,476 shares during the quarter. Mackenzie Financial Corp's holdings in Mueller Water Products were worth $219,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new stake in shares of Mueller Water Products in the fourth quarter valued at $29,000. Tower Research Capital LLC TRC boosted its holdings in Mueller Water Products by 171.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 1,113 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Mueller Water Products in the 4th quarter valued at approximately $63,000. Gen Wealth Partners Inc acquired a new position in Mueller Water Products during the 4th quarter worth approximately $65,000. Finally, Blue Trust Inc. raised its stake in shares of Mueller Water Products by 14.8% during the 4th quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company's stock worth $126,000 after buying an additional 726 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Insider Activity

In other 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian C. Healy bought 1,085 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $25.32 per share, for a total transaction of $27,472.20. Following the completion of the transaction, the director now directly owns 14,620 shares in the company, valued at approximately $370,178.40. This trade represents a 8.02% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Mueller Water Products Price Performance

Shares of NYSE:MWA opened at $24.34 on Friday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.83 and a quick ratio of 2.38. The business's 50 day simple moving average is $24.98 and its 200-day simple moving average is $24.83. Mueller Water Products, Inc. has a 12 month low of $17.09 and a 12 month high of $28.58.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its earnings results on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $364.30 million for the quarter, compared to the consensus estimate of $352.30 million. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. Mueller Water Products's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, equities analysts forecast that Mueller Water Products, Inc. will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a dividend of $0.067 per share. The ex-dividend date was Monday, May 12th. This represents a $0.27 annualized dividend and a dividend yield of 1.10%. Mueller Water Products's dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

MWA has been the topic of a number of analyst reports. Wall Street Zen downgraded Mueller Water Products from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank of Canada raised their target price on Mueller Water Products from $25.00 to $29.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Mueller Water Products from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $26.25.

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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