MUELLER WATER PRODUCTS $MWA Stock Holdings Decreased by Millennium Management LLC

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 reduced its stake in shares of MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 813,016 shares of the industrial products company's stock after selling 1,159,587 shares during the period. Millennium Management LLC owned about 0.52% of MUELLER WATER PRODUCTS worth $20,667,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MWA. Byrne Asset Management LLC grew its holdings in MUELLER WATER PRODUCTS by 73.1% during the 1st 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 in the last quarter. Olde Wealth Management LLC acquired a new position in MUELLER WATER PRODUCTS during the 1st quarter worth $42,000. Nisa Investment Advisors LLC boosted its holdings in shares of MUELLER WATER PRODUCTS by 184.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company's stock valued at $43,000 after buying an additional 1,104 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of MUELLER WATER PRODUCTS by 177.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,635 shares of the industrial products company's stock valued at $67,000 after buying an additional 1,686 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of MUELLER WATER PRODUCTS in the 1st quarter valued at about $73,000. 91.68% of the stock is owned by institutional investors and hedge funds.

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. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $28.33.

MUELLER WATER PRODUCTS Price Performance

Shares of MWA stock traded up $0.27 during midday trading on Monday, reaching $25.31. 1,394,598 shares of the company were exchanged, compared to its average volume of 901,526. MUELLER WATER PRODUCTS has a 12 month low of $20.16 and a 12 month high of $28.58. The company has a market cap of $3.95 billion, a P/E ratio of 26.92, a PEG ratio of 1.32 and a beta of 1.19. The company's 50 day moving average price is $25.64 and its two-hundred day moving average price is $25.28. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.56 and a current ratio of 3.86.

MUELLER WATER PRODUCTS (NYSE:MWA - Get Free Report) last released its quarterly 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 company had revenue of $380.30 million for the quarter, compared to the consensus estimate of $366.82 million. During the same quarter last year, the firm posted $0.32 earnings per share. The firm's quarterly 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, sell-side analysts expect that MUELLER WATER PRODUCTS will post 1.24 earnings per share for the current year.

MUELLER WATER PRODUCTS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 12th were issued a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 12th. MUELLER WATER PRODUCTS's payout ratio is presently 28.72%.

Insider Buying and Selling

In related news, Director Thomas J. Hansen sold 24,005 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 86,163 shares in the company, valued at $2,253,162.45. The trade was a 21.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian C. Healy bought 1,110 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average price of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the acquisition, the director directly owned 15,730 shares in the company, valued at approximately $389,160.20. This represents a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 34,664 shares of company stock worth $909,819 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

About MUELLER WATER PRODUCTS

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.