MUELLER WATER PRODUCTS (NYSE:MWA) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Mueller Water Products by 430.1%, owning 21,320 shares valued at $542,000 by the end of the first quarter.
• Mueller Water Products reported a quarterly earnings per share (EPS) of $0.34, missing estimates slightly, though revenue grew 6.6% year-over-year to $380.30 million.
• The company declared a quarterly dividend of $0.067 per share, with an annualized payout representing a yield of 1.0%.

PNC Financial Services Group Inc. grew its position in shares of MUELLER WATER PRODUCTS (NYSE:MWA - Free Report) by 430.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,320 shares of the industrial products company's stock after purchasing an additional 17,298 shares during the period. PNC Financial Services Group Inc.'s holdings in MUELLER WATER PRODUCTS were worth $542,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Alberta Investment Management Corp grew its position in shares of MUELLER WATER PRODUCTS by 6.6% in the first quarter. Alberta Investment Management Corp now owns 212,811 shares of the industrial products company's stock valued at $5,410,000 after purchasing an additional 13,095 shares during the period. Menard Financial Group LLC purchased a new stake in shares of MUELLER WATER PRODUCTS in the first quarter valued at $297,000. TradeLink Capital LLC acquired a new position in MUELLER WATER PRODUCTS in the first quarter valued at $274,000. Natixis Advisors LLC acquired a new position in MUELLER WATER PRODUCTS in the first quarter valued at $645,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in MUELLER WATER PRODUCTS by 58.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 27,012 shares of the industrial products company's stock valued at $687,000 after acquiring an additional 9,982 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

MUELLER WATER PRODUCTS Trading Up 1.7%

Shares of MWA stock opened at $27.39 on Thursday. The firm's 50 day moving average price is $24.63 and its two-hundred day moving average price is $25.16. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. MUELLER WATER PRODUCTS has a fifty-two week low of $19.23 and a fifty-two week high of $28.58. The company has a quick ratio of 2.56, a current ratio of 3.86 and a debt-to-equity ratio of 0.48.

MUELLER WATER PRODUCTS (NYSE:MWA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). MUELLER WATER PRODUCTS had a return on equity of 20.89% and a net margin of 10.67%. The business had revenue of $380.30 million during the quarter, compared to analyst estimates of $366.82 million. During the same quarter last year, the firm posted $0.32 EPS. The company's revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that MUELLER WATER PRODUCTS will post 1.24 EPS for the current year.

MUELLER WATER PRODUCTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, August 12th. MUELLER WATER PRODUCTS's dividend payout ratio is 28.72%.

Insider Buying and Selling

In other MUELLER WATER PRODUCTS news, Director Brian C. Healy bought 1,110 shares of the stock in a transaction on Monday, July 7th. The stock was purchased 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 directly owned 15,730 shares in the company, valued at approximately $389,160.20. This trade represents a 7.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of MUELLER WATER PRODUCTS from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th.

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.

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