MUELLER WATER PRODUCTS $MWA Shares Purchased by Comerica Bank

Key Points

• Comerica Bank significantly increased its stake in MUELLER WATER PRODUCTS by 5,989.1%, acquiring an additional 189,795 shares, bringing its total to 192,964 shares valued at approximately $4.9 million.
• The company recently announced a quarterly dividend of $0.067 per share, yielding about 1.0%, with a current dividend payout ratio of 28.72%.
• MUELLER WATER PRODUCTS reported earnings of $0.34 per share, missing analysts' estimates by $0.01, while revenue increased by 6.6% year-over-year to $380.30 million.

Comerica Bank grew its stake in MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 5,989.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 192,964 shares of the industrial products company's stock after acquiring an additional 189,795 shares during the period. Comerica Bank owned about 0.12% of MUELLER WATER PRODUCTS worth $4,905,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MWA. Tower Research Capital LLC TRC raised its stake in shares of MUELLER WATER PRODUCTS by 171.8% in 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 acquiring an additional 1,113 shares during the period. Byrne Asset Management LLC raised its stake in shares of MUELLER WATER PRODUCTS by 73.1% in the 1st quarter. Byrne Asset Management LLC now owns 1,558 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 658 shares during the period. Olde Wealth Management LLC purchased a new stake in shares of MUELLER WATER PRODUCTS in the 1st quarter valued at approximately $42,000. Nisa Investment Advisors LLC raised its stake 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 acquiring an additional 1,104 shares during the period. Finally, Gen Wealth Partners Inc purchased a new stake in shares of MUELLER WATER PRODUCTS in the 4th quarter valued at approximately $65,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

MUELLER WATER PRODUCTS Stock Up 2.5%

Shares of NYSE:MWA traded up $0.66 during trading hours on Thursday, reaching $26.73. The stock had a trading volume of 550,896 shares, compared to its average volume of 832,344. MUELLER WATER PRODUCTS has a 1 year low of $19.23 and a 1 year high of $28.58. The firm's 50 day moving average is $25.49 and its 200-day moving average is $25.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.56 and a current ratio of 3.86. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 1.38 and a beta of 1.19.

MUELLER WATER PRODUCTS (NYSE:MWA - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $366.82 million. During the same period in the prior year, the company 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. Research analysts predict that MUELLER WATER PRODUCTS will post 1.24 earnings per share for the current fiscal year.

MUELLER WATER PRODUCTS Dividend Announcement

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

Insider Activity

In related news, Director Brian C. Healy bought 1,110 shares of the stock in a transaction dated 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 acquisition, the director owned 15,730 shares in the company, valued at approximately $389,160.20. This represents a 7.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Hansen sold 24,005 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $26.15, for a total transaction of $627,730.75. Following the completion of the transaction, the director owned 86,163 shares of the company's stock, valued at approximately $2,253,162.45. The trade was a 21.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,914 shares of company stock worth $889,727. Corporate insiders own 1.10% of the company's stock.

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.