Allianz Asset Management GmbH grew its stake in Mueller Water Products (NYSE:MWA - Free Report) by 95.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,212,850 shares of the industrial products company's stock after purchasing an additional 1,568,247 shares during the period. Allianz Asset Management GmbH owned approximately 2.05% of Mueller Water Products worth $81,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mueller Water Products in the first quarter valued at approximately $502,000. Handelsbanken Fonder AB lifted its holdings in Mueller Water Products by 45.6% in the first quarter. Handelsbanken Fonder AB now owns 52,336 shares of the industrial products company's stock valued at $1,330,000 after acquiring an additional 16,400 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Mueller Water Products by 354.3% in the first quarter. Envestnet Asset Management Inc. now owns 318,939 shares of the industrial products company's stock valued at $8,107,000 after acquiring an additional 248,733 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Mueller Water Products in the first quarter valued at approximately $287,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Mueller Water Products in the first quarter valued at approximately $217,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded Mueller Water Products from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.25.
Get Our Latest Analysis on Mueller Water Products
Mueller Water Products Trading Up 0.7%
NYSE:MWA traded up $0.17 during trading hours on Friday, reaching $24.92. 155,929 shares of the stock were exchanged, compared to its average volume of 1,866,848. The company has a quick ratio of 2.49, a current ratio of 3.79 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $24.47 and a two-hundred day moving average of $24.91. Mueller Water Products has a twelve month low of $18.55 and a twelve month high of $28.58. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.33 and a beta of 1.18.
Mueller Water Products (NYSE:MWA - Get Free Report) last released its quarterly earnings results 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 return on equity of 21.31% and a net margin of 10.48%. The company had revenue of $364.30 million for the quarter, compared to analysts' expectations of $352.30 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Mueller Water Products will post 1.24 EPS for the current year.
Mueller Water Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a $0.067 dividend. This represents a $0.27 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, May 12th. Mueller Water Products's payout ratio is currently 29.67%.
Insider Buying and Selling at Mueller Water Products
In other news, Director Brian Slobodow sold 7,376 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $24.57, for a total value of $181,228.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian C. Healy acquired 1,110 shares of Mueller Water Products stock in a transaction dated Monday, July 7th. The stock was bought at an average price of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.
Mueller Water Products Profile
(
Free Report)
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.
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