Mueller Water Products (NYSE:MWA) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Mueller Water Products by 62.9%, owning 354,103 shares valued at approximately $9 million as of its latest SEC filing.
• Mueller Water Products had a quarterly revenue of $380.30 million, up 6.6% year-over-year, but reported earnings per share of $0.34, slightly missing the consensus estimate.
• The company declared a quarterly dividend of $0.067 per share, resulting in an annualized dividend yield of 1.0%, with a payout ratio currently at 28.72%.

Deutsche Bank AG raised its stake in Mueller Water Products (NYSE:MWA - Free Report) by 62.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 354,103 shares of the industrial products company's stock after acquiring an additional 136,688 shares during the period. Deutsche Bank AG owned 0.23% of Mueller Water Products worth $9,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MWA. LPL Financial LLC boosted its stake in Mueller Water Products by 24.8% in the fourth quarter. LPL Financial LLC now owns 17,727 shares of the industrial products company's stock valued at $399,000 after acquiring an additional 3,520 shares during the period. Wells Fargo & Company MN boosted its position in shares of Mueller Water Products by 44.4% during the fourth quarter. Wells Fargo & Company MN now owns 130,685 shares of the industrial products company's stock worth $2,940,000 after buying an additional 40,155 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Mueller Water Products by 6.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 70,206 shares of the industrial products company's stock worth $1,580,000 after buying an additional 4,292 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Mueller Water Products by 110.2% during the fourth quarter. Russell Investments Group Ltd. now owns 88,000 shares of the industrial products company's stock worth $1,980,000 after buying an additional 46,144 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Mueller Water Products by 3.4% during the fourth quarter. Renaissance Technologies LLC now owns 389,800 shares of the industrial products company's stock worth $8,770,000 after buying an additional 12,900 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Mueller Water Products Price Performance

Shares of NYSE:MWA opened at $26.25 on Friday. Mueller Water Products has a 12 month low of $19.23 and a 12 month high of $28.58. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.41 and a beta of 1.18. The stock's 50 day moving average price is $24.71 and its 200 day moving average price is $25.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $380.30 million during the quarter, compared to the consensus estimate of $366.82 million. During the same period in the prior year, the company posted $0.32 EPS. Mueller Water Products's quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.067 per share. This represents a $0.27 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 12th. Mueller Water Products's payout ratio is currently 28.72%.

Insider Activity at Mueller Water Products

In related news, Director Brian C. Healy purchased 1,110 shares of the stock in a transaction dated Monday, July 7th. The shares were acquired at an average cost of $24.74 per share, for a total transaction of $27,461.40. Following the acquisition, the director directly owned 15,730 shares in the company, valued at approximately $389,160.20. The trade was a 7.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Mueller Water Products from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th.

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.

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