Mueller Water Products $MWA Stock: Alps Advisors Inc. Boosts Stake

Key Points

• Alps Advisors increased its Mueller Water Products stake by 914.5% in the third quarter, ending the period with 182,837 shares valued at about $3.9 million. Institutional investors and hedge funds own 91.68% of the stock.
• Mueller beat quarterly earnings and revenue estimates, reporting EPS of $0.38 and revenue of $376.5 million, though revenue fell 1.1% year over year. The company also authorized a $300 million share repurchase plan and raised its quarterly dividend from $0.07 to $0.08 per share.
• Analyst views are mixed, with two Buy, one Hold, and two Sell ratings; the consensus rating is Hold, with a $26.80 price target.

Alps Advisors Inc. grew its holdings in Mueller Water Products (NYSE:MWA - Free Report) by 914.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,837 shares of the industrial products company's stock after purchasing an additional 164,815 shares during the period. Alps Advisors Inc. owned about 0.12% of Mueller Water Products worth $3,883,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MWA. First Trust Advisors LP increased its position in Mueller Water Products by 34.0% during the first quarter. First Trust Advisors LP now owns 6,036,679 shares of the industrial products company's stock worth $165,948,000 after buying an additional 1,530,193 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Mueller Water Products by 58.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,934,813 shares of the industrial products company's stock valued at $53,217,000 after acquiring an additional 714,913 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Mueller Water Products during the second quarter worth about $28,496,000. Bank of America Corp DE boosted its position in shares of Mueller Water Products by 30.0% during the 1st quarter. Bank of America Corp DE now owns 888,975 shares of the industrial products company's stock worth $24,438,000 after acquiring an additional 205,269 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Mueller Water Products by 37.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 626,617 shares of the industrial products company's stock valued at $13,309,000 after purchasing an additional 170,800 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Christine Ortiz sold 12,048 shares of Mueller Water Products stock in a transaction on Monday, August 31st. The shares were sold at an average price of $24.23, for a total value of $291,923.04. Following the transaction, the director owned 30,824 shares in the company, valued at $746,865.52. This trade represents a 28.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Healy purchased 1,376 shares of the firm's stock in a transaction on Wednesday, October 7th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $29,928.00. Following the completion of the purchase, the director directly owned 26,322 shares in the company, valued at approximately $572,503.50. This trade represents a 5.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Mueller Water Products from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. Barclays dropped their price target on shares of Mueller Water Products from $25.00 to $24.00 and set an "underweight" rating on the stock in a research report on Friday. Oppenheimer decreased their target price on Mueller Water Products from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, October 14th. The Goldman Sachs Group dropped their price objective on shares of Mueller Water Products from $29.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, October 9th. Finally, Weiss Ratings lowered shares of Mueller Water Products from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $26.80.

Mueller Water Products Trading Up 0.1%

Shares of MWA opened at $24.07 on Monday. The business's 50-day moving average price is $22.55 and its 200-day moving average price is $25.80. The company has a quick ratio of 3.01, a current ratio of 4.45 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.76 billion, a PE ratio of 17.07, a P/E/G ratio of 1.01 and a beta of 0.99. Mueller Water Products has a twelve month low of $20.90 and a twelve month high of $31.00.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.01. The company had revenue of $376.50 million for the quarter, compared to the consensus estimate of $375.51 million. Mueller Water Products had a return on equity of 22.58% and a net margin of 15.04%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts forecast that Mueller Water Products will post 1.59 EPS for the current fiscal year.

Mueller Water Products declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 22nd that allows the company to repurchase $300 million in shares. This buyback authorization allows the industrial products company to reacquire up to 8.8% of its stock through open market purchases. Share buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Mueller Water Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, November 9th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, November 9th. This is an increase from Mueller Water Products's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Mueller Water Products's dividend payout ratio (DPR) is 19.86%.

Mueller Water Products Company Profile

Mueller Water Products manufactures products and solutions used to operate and maintain water infrastructure. Its offerings include water distribution valves, fire hydrants, ductile iron pipe and fittings, and products for measuring and managing water flow.

The company also provides technologies and services for detecting leaks and monitoring water systems. Its products are used by water utilities and municipalities in the treatment and distribution of drinking water, as well as in fire protection and wastewater applications.

Mueller Water Products traces part of its history to Mueller Co, founded by inventor Hieronymus Mueller in Decatur, Illinois, in 1857.

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