Convergence Investment Partners LLC Has $745,000 Stock Position in Mueller Water Products (NYSE:MWA)

Convergence Investment Partners LLC lessened its holdings in shares of Mueller Water Products (NYSE:MWA - Free Report) by 54.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,290 shares of the industrial products company's stock after selling 35,266 shares during the period. Convergence Investment Partners LLC's holdings in Mueller Water Products were worth $745,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MWA. Optiver Holding B.V. bought a new stake in shares of Mueller Water Products during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC grew its stake in shares of Mueller Water Products by 171.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 1,113 shares during the last quarter. Byrne Asset Management LLC grew its stake in shares of 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 valued at $40,000 after purchasing an additional 658 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Mueller Water Products during the first quarter valued at approximately $42,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Mueller Water Products by 184.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 1,104 shares during the last quarter. Institutional investors own 91.68% of the company's stock.

Insider Activity

In related news, Director Brian C. Healy bought 1,110 shares of Mueller Water Products stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average price of $24.74 per share, with a total value of $27,461.40. Following the acquisition, the director owned 15,730 shares of the company's stock, valued at approximately $389,160.20. This represents a 7.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Slobodow sold 7,376 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $24.57, for a total transaction of $181,228.32. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $26.25.

Mueller Water Products Trading Up 1.5%

MWA traded up $0.37 during mid-day trading on Friday, hitting $25.12. The stock had a trading volume of 947,359 shares, compared to its average volume of 1,272,404. The stock's fifty day simple moving average is $24.46 and its 200-day simple moving average is $24.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.79 and a quick ratio of 2.49. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.36 and a beta of 1.18. Mueller Water Products has a 1-year low of $18.55 and a 1-year high of $28.58.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $352.30 million. During the same period last year, the business posted $0.30 earnings per share. The firm's quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts forecast that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders 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 dividend yield of 1.07%. Mueller Water Products's dividend payout ratio is presently 28.57%.

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.