Assenagon Asset Management S.A. Cuts Position in Mueller Water Products (NYSE:MWA)

Assenagon Asset Management S.A. lessened its position in shares of Mueller Water Products (NYSE:MWA - Free Report) by 38.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 175,893 shares of the industrial products company's stock after selling 108,124 shares during the period. Assenagon Asset Management S.A. owned 0.11% of Mueller Water Products worth $4,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Handelsbanken Fonder AB raised its position in shares of Mueller Water Products by 45.6% in the 1st quarter. Handelsbanken Fonder AB now owns 52,336 shares of the industrial products company's stock worth $1,330,000 after acquiring an additional 16,400 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Mueller Water Products during the first quarter worth approximately $213,000. Yousif Capital Management LLC bought a new stake in Mueller Water Products in the first quarter worth approximately $1,485,000. Harbor Capital Advisors Inc. acquired a new position in Mueller Water Products in the first quarter valued at approximately $3,963,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Mueller Water Products by 25.4% during the 1st quarter. Farther Finance Advisors LLC now owns 6,504 shares of the industrial products company's stock worth $167,000 after buying an additional 1,317 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Mueller Water Products from a "buy" rating to a "hold" rating in a research note on Sunday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.25.

Mueller Water Products Stock Down 0.0%

Mueller Water Products stock traded down $0.01 during mid-day trading on Tuesday, reaching $23.44. The stock had a trading volume of 1,581,311 shares, compared to its average volume of 1,581,219. The firm has a market capitalization of $3.67 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Mueller Water Products has a fifty-two week low of $17.09 and a fifty-two week high of $28.58. The stock's 50-day simple moving average is $24.96 and its 200-day simple moving average is $24.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.49 and a current ratio of 3.79.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Mueller Water Products had a net margin of 10.48% and a return on equity of 21.31%. The business had revenue of $364.30 million during the quarter, compared to the consensus estimate of $352.30 million. During the same quarter last year, the firm posted $0.30 EPS. Mueller Water Products's revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were issued a $0.067 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.14%. Mueller Water Products's dividend payout ratio is presently 29.67%.

Insider Activity at Mueller Water Products

In related news, Director Brian C. Healy purchased 1,085 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $25.32 per share, with a total value of $27,472.20. Following the transaction, the director now owns 14,620 shares of the company's stock, valued at $370,178.40. This represents a 8.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Slobodow sold 7,376 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $24.57, for a total value of $181,228.32. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.