MUELLER WATER PRODUCTS $MWA Shares Bought by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC significantly increased its holdings in MUELLER WATER PRODUCTS by 482.0% during the 1st quarter, bringing its ownership to approximately 551,824 shares valued at $14 million.
• Wall Street analysts are optimistic about MUELLER WATER PRODUCTS, with one upgrade from a "hold" to a "buy" rating, and a consensus target price of $28.33.
• The company reported $380.30 million in revenue for the last quarter, exceeding analysts' estimates, despite a slight miss on earnings per share.

MetLife Investment Management LLC increased its stake in MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 482.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 551,824 shares of the industrial products company's stock after acquiring an additional 457,011 shares during the period. MetLife Investment Management LLC owned approximately 0.35% of MUELLER WATER PRODUCTS worth $14,027,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Van Hulzen Asset Management LLC boosted its position in shares of MUELLER WATER PRODUCTS by 0.8% in the first quarter. Van Hulzen Asset Management LLC now owns 64,990 shares of the industrial products company's stock worth $1,652,000 after acquiring an additional 519 shares during the last quarter. Byrne Asset Management LLC boosted its position in shares of 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 during the last quarter. Xponance Inc. boosted its position in shares of MUELLER WATER PRODUCTS by 6.0% in the first quarter. Xponance Inc. now owns 11,726 shares of the industrial products company's stock worth $298,000 after acquiring an additional 660 shares during the last quarter. Summit Global Investments boosted its position in shares of MUELLER WATER PRODUCTS by 1.3% in the first quarter. Summit Global Investments now owns 54,437 shares of the industrial products company's stock worth $1,384,000 after acquiring an additional 687 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of MUELLER WATER PRODUCTS by 3.0% in the fourth quarter. Baird Financial Group Inc. now owns 24,702 shares of the industrial products company's stock worth $556,000 after acquiring an additional 722 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of MUELLER WATER PRODUCTS from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $28.33.

Insider Buying and Selling

In related news, Director Thomas J. Hansen sold 24,005 shares of MUELLER WATER PRODUCTS stock in a transaction on Monday, August 18th. The shares were sold at an average price of $26.15, for a total value of $627,730.75. Following the completion of the sale, the director owned 86,163 shares in the company, valued at approximately $2,253,162.45. The trade was a 21.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian C. Healy bought 1,110 shares of the stock in a transaction on Monday, July 7th. The shares were acquired at an average price of $24.74 per share, with a total value of $27,461.40. Following the purchase, the director owned 15,730 shares of the company's stock, valued at $389,160.20. The trade was a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 33,914 shares of company stock worth $889,727. Insiders own 1.10% of the company's stock.

MUELLER WATER PRODUCTS Stock Down 2.2%

Shares of NYSE MWA traded down $0.59 during trading on Friday, reaching $26.34. 801,532 shares of the stock were exchanged, compared to its average volume of 1,094,306. The business's 50-day moving average price is $25.29 and its 200 day moving average price is $25.30. MUELLER WATER PRODUCTS has a twelve month low of $19.23 and a twelve month high of $28.58. The company has a quick ratio of 2.56, a current ratio of 3.86 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19.

MUELLER WATER PRODUCTS (NYSE:MWA - Get Free Report) last posted 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). MUELLER WATER PRODUCTS had a return on equity of 20.89% and a net margin of 10.67%.The firm had revenue of $380.30 million for the quarter, compared to analyst estimates of $366.82 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. MUELLER WATER PRODUCTS has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that MUELLER WATER PRODUCTS will post 1.24 EPS for the current fiscal year.

MUELLER WATER PRODUCTS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 12th were paid a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, August 12th. MUELLER WATER PRODUCTS's payout ratio is 28.72%.

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.