Millennium Management LLC Trims Holdings in MUELLER WATER PRODUCTS $MWA

Key Points

• Millennium Management LLC sold 1,159,587 shares of Mueller Water Products in Q1 2024, reducing its stake by 58.8% to 813,016 shares, valued at approximately $20.67 million.
• Despite the sale, other investors like Byrne Asset Management LLC and Nisa Investment Advisors LLC increased their positions in Mueller Water Products, indicating ongoing institutional interest.
• Mueller Water Products reported Q2 earnings of $0.34 per share, missing estimates, but had a revenue increase of 6.6% year-over-year, totaling $380.30 million.

Millennium Management LLC trimmed its holdings in MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 58.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 813,016 shares of the industrial products company's stock after selling 1,159,587 shares during the quarter. Millennium Management LLC owned approximately 0.52% of MUELLER WATER PRODUCTS worth $20,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MWA. Baird Financial Group Inc. boosted its stake in 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 worth $556,000 after purchasing an additional 722 shares during the period. Deutsche Bank AG boosted its stake in MUELLER WATER PRODUCTS by 24.3% in the 4th quarter. Deutsche Bank AG now owns 217,415 shares of the industrial products company's stock worth $4,892,000 after purchasing an additional 42,451 shares during the period. Gotham Asset Management LLC boosted its stake in MUELLER WATER PRODUCTS by 43.4% in the 4th quarter. Gotham Asset Management LLC now owns 125,202 shares of the industrial products company's stock worth $2,817,000 after purchasing an additional 37,891 shares during the period. Janus Henderson Group PLC boosted its stake in MUELLER WATER PRODUCTS by 273.4% in the 4th quarter. Janus Henderson Group PLC now owns 260,704 shares of the industrial products company's stock worth $5,865,000 after purchasing an additional 190,878 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in MUELLER WATER PRODUCTS by 31.4% in the 4th quarter. Point72 Asset Management L.P. now owns 41,234 shares of the industrial products company's stock worth $928,000 after purchasing an additional 9,849 shares during the period. 91.68% of the stock is currently owned by institutional investors.

Insider Activity at MUELLER WATER PRODUCTS

In related news, Director Brian C. Healy purchased 1,110 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were bought at an average price of $24.74 per share, for a total transaction of $27,461.40. Following the acquisition, the director owned 15,730 shares of the company's stock, valued at approximately $389,160.20. This represents a 7.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Suzanne G. Smith sold 1,288 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $26.91, for a total value of $34,660.08. Following the sale, the chief accounting officer owned 763 shares in the company, valued at $20,532.33. The trade was a 62.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,664 shares of company stock worth $909,819. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $28.33.

MUELLER WATER PRODUCTS Price Performance

Shares of NYSE MWA traded up $0.36 during midday trading on Thursday, reaching $25.67. 1,389,550 shares of the stock traded hands, compared to its average volume of 992,680. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56. The stock has a market capitalization of $4.01 billion, a PE ratio of 27.31, a P/E/G ratio of 1.33 and a beta of 1.19. MUELLER WATER PRODUCTS has a one year low of $20.76 and a one year high of $28.58. The company's 50 day moving average is $25.67 and its 200 day moving average is $25.29.

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 net margin of 10.67% and a return on equity of 20.89%. The firm had revenue of $380.30 million for the quarter, compared to the consensus estimate of $366.82 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. 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. On average, equities research analysts anticipate that MUELLER WATER PRODUCTS will post 1.24 earnings per share for the current 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 issued a dividend of $0.067 per share. This represents a $0.27 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, August 12th. MUELLER WATER PRODUCTS's dividend payout ratio is presently 28.72%.

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.