Assenagon Asset Management S.A. Cuts Stake in MUELLER WATER PRODUCTS (NYSE:MWA)

Assenagon Asset Management S.A. decreased its holdings in MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 38.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 about 0.11% of MUELLER WATER PRODUCTS worth $4,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new stake in MUELLER WATER PRODUCTS in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC increased its position in MUELLER WATER PRODUCTS by 171.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company's stock valued at $40,000 after buying an additional 1,113 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of MUELLER WATER PRODUCTS in the 4th quarter valued at approximately $63,000. Gen Wealth Partners Inc purchased a new position in shares of MUELLER WATER PRODUCTS in the fourth quarter worth $65,000. Finally, Blue Trust Inc. lifted its position in MUELLER WATER PRODUCTS by 14.8% during the 4th quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company's stock worth $126,000 after acquiring an additional 726 shares during the period. Institutional investors own 91.68% of the company's stock.

MUELLER WATER PRODUCTS Price Performance

Shares of MUELLER WATER PRODUCTS stock traded down $0.04 during trading hours on Thursday, reaching $23.38. The stock had a trading volume of 1,482,912 shares, compared to its average volume of 1,587,677. The firm has a market capitalization of $3.66 billion, a PE ratio of 25.69, a PEG ratio of 1.27 and a beta of 1.21. The stock's 50 day moving average is $24.93 and its 200 day moving average is $24.76. The company has a current ratio of 3.79, a quick ratio of 2.49 and a debt-to-equity ratio of 0.51. MUELLER WATER PRODUCTS has a twelve month low of $17.09 and a twelve month high of $28.58.

MUELLER WATER PRODUCTS (NYSE:MWA - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $352.30 million. During the same period last year, the firm posted $0.30 earnings per share. The company's revenue was up 3.1% compared to the same quarter last year. Equities analysts expect that MUELLER WATER PRODUCTS will post 1.24 earnings per share 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. Shareholders of record on Monday, May 12th were paid a dividend of $0.067 per share. The ex-dividend date was Monday, May 12th. This represents a $0.27 annualized dividend and a yield of 1.15%. MUELLER WATER PRODUCTS's dividend payout ratio (DPR) is presently 29.67%.

Insider Activity at MUELLER WATER PRODUCTS

In other news, Director Brian C. Healy purchased 1,085 shares of the business's stock in a transaction dated Friday, May 16th. The stock was acquired at an average price of $25.32 per share, for a total transaction of $27,472.20. Following the acquisition, the director now directly owns 14,620 shares of the company's stock, valued at approximately $370,178.40. This represents a 8.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Slobodow sold 7,376 shares of MUELLER WATER PRODUCTS 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 corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of MUELLER WATER PRODUCTS from a "buy" rating to a "hold" rating in a report on Sunday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, MUELLER WATER PRODUCTS has a consensus rating of "Hold" and a consensus target price of $26.25.

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.