MUELLER WATER PRODUCTS $MWA Stake Boosted by Truist Financial Corp

Key Points

• Truist Financial Corp boosted its stake in MUELLER WATER PRODUCTS (NYSE:MWA) by 41.8%, owning 60,968 shares worth approximately $1.47 million at the end of the second quarter.
• Several institutional investors are increasing their holdings in MUELLER WATER PRODUCTS, with 91.68% of the stock owned by institutional investors and hedge funds.
• MUELLER WATER PRODUCTS recently declared a quarterly dividend of $0.067 per share, representing an annualized yield of 1.1% and a payout ratio of 28.72%.

Truist Financial Corp increased its position in shares of MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 41.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,968 shares of the industrial products company's stock after purchasing an additional 17,982 shares during the quarter. Truist Financial Corp's holdings in MUELLER WATER PRODUCTS were worth $1,466,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Van Hulzen Asset Management LLC increased its position in MUELLER WATER PRODUCTS by 0.8% in the first quarter. Van Hulzen Asset Management LLC now owns 64,990 shares of the industrial products company's stock worth $1,652,000 after buying an additional 519 shares during the period. Byrne Asset Management LLC grew its holdings in MUELLER WATER PRODUCTS by 73.1% during the first 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 during the period. Xponance Inc. grew its holdings in MUELLER WATER PRODUCTS by 6.0% during the first quarter. Xponance Inc. now owns 11,726 shares of the industrial products company's stock worth $298,000 after acquiring an additional 660 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in MUELLER WATER PRODUCTS by 11.6% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,674 shares of the industrial products company's stock worth $160,000 after acquiring an additional 695 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in MUELLER WATER PRODUCTS by 8.3% in the 2nd quarter. TD Private Client Wealth LLC now owns 10,687 shares of the industrial products company's stock worth $257,000 after purchasing an additional 822 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen raised MUELLER WATER PRODUCTS from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of MUELLER WATER PRODUCTS in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.33.

Insider Buying and Selling at MUELLER WATER PRODUCTS

In other MUELLER WATER PRODUCTS news, Director Thomas J. Hansen sold 24,005 shares of the company's stock in a transaction on Monday, August 18th. The stock was 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. This represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian C. Healy purchased 1,070 shares of the stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of $25.78 per share, for a total transaction of $27,584.60. Following the completion of the transaction, the director directly owned 16,800 shares of the company's stock, valued at approximately $433,104. This trade represents a 6.80% 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 over the last three months. Company insiders own 1.10% of the company's stock.

MUELLER WATER PRODUCTS Stock Down 0.9%

Shares of MWA stock opened at $24.92 on Friday. The stock has a 50 day moving average of $25.86 and a 200-day moving average of $25.14. The company has a quick ratio of 2.56, a current ratio of 3.86 and a debt-to-equity ratio of 0.48. The firm has a market cap of $3.89 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. MUELLER WATER PRODUCTS has a 12 month low of $21.35 and a 12 month high of $28.58.

MUELLER WATER PRODUCTS (NYSE:MWA - Get Free Report) last issued its earnings results on Thursday, February 24th. The industrial products company reported $0.11 EPS for the quarter. The business had revenue of $237.40 million during the quarter. MUELLER WATER PRODUCTS had a return on equity of 20.89% and a net margin of 10.67%. On average, equities analysts predict that MUELLER WATER PRODUCTS will post 1.24 EPS for the current year.

MUELLER WATER PRODUCTS Announces Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.