Madison Asset Management LLC Makes New Investment in Mueller Water Products $MWA

Key Points

• Madison Asset Management purchased 101,148 shares of Mueller Water Products worth approximately $2.6 million, joining other institutions that increased or initiated positions. Institutional investors collectively own 91.68% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $30.20; ratings range from Buy to Sell.
• Mueller reported quarterly EPS of $0.50, beating estimates of $0.39, while revenue rose 4.1% year over year to $395.9 million. The company also pays a quarterly dividend of $0.07 per share, representing a 1.1% yield.

Madison Asset Management LLC purchased a new stake in Mueller Water Products (NYSE:MWA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 101,148 shares of the industrial products company's stock, valued at approximately $2,613,000. Madison Asset Management LLC owned approximately 0.06% of Mueller Water Products at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Great Lakes Advisors LLC bought a new position in shares of Mueller Water Products during the 2nd quarter worth about $283,000. Bank of New York Mellon Corp bought a new stake in Mueller Water Products in the 2nd quarter valued at about $28,496,000. GAMMA Investing LLC raised its stake in Mueller Water Products by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,487 shares of the industrial products company's stock worth $116,000 after buying an additional 421 shares during the period. Bank of America Corp DE raised its stake in Mueller Water Products by 30.0% during the 1st quarter. Bank of America Corp DE now owns 888,975 shares of the industrial products company's stock worth $24,438,000 after buying an additional 205,269 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Mueller Water Products by 58.6% in the first quarter. Janus Henderson Group PLC now owns 1,934,813 shares of the industrial products company's stock worth $53,217,000 after acquiring an additional 714,913 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

MWA has been the subject of a number of research reports. Wall Street Zen raised Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. Barclays assumed coverage on Mueller Water Products in a research report on Tuesday, June 30th. They set an "underweight" rating and a $25.00 target price on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $29.00 target price on shares of Mueller Water Products in a report on Wednesday, May 6th. Royal Bank Of Canada reduced their price target on shares of Mueller Water Products from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Mueller Water Products from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $30.20.

Insider Activity at Mueller Water Products

In other news, Director Brian C. Healy bought 1,183 shares of the stock in a transaction on Tuesday, July 7th. The shares were acquired at an average cost of $25.33 per share, for a total transaction of $29,965.39. Following the purchase, the director directly owned 24,946 shares of the company's stock, valued at $631,882.18. This trade represents a 4.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul Mcandrew sold 40,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $26.39, for a total transaction of $1,055,600.00. Following the completion of the transaction, the chief executive officer directly owned 42,556 shares of the company's stock, valued at approximately $1,123,052.84. The trade was a 48.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Mueller Water Products Stock Performance

Shares of Mueller Water Products stock opened at $25.10 on Friday. Mueller Water Products has a 52 week low of $22.74 and a 52 week high of $31.00. The company has a quick ratio of 3.08, a current ratio of 4.64 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $25.57 and a 200-day moving average price of $26.95. The company has a market cap of $3.92 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.03.

Mueller Water Products (NYSE:MWA - Get Free Report) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%.The company had revenue of $395.90 million during the quarter, compared to analyst estimates of $391.49 million. During the same period in the prior year, the company posted $0.34 earnings per share. Mueller Water Products's quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Mueller Water Products will post 1.53 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.28 annualized dividend and a yield of 1.1%. Mueller Water Products's payout ratio is currently 19.86%.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company's portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company's operations are organized around two primary business segments.

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