Envestnet Asset Management Inc. Raises Holdings in Mueller Water Products (NYSE:MWA)

Envestnet Asset Management Inc. raised its position in Mueller Water Products (NYSE:MWA - Free Report) by 354.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,939 shares of the industrial products company's stock after acquiring an additional 248,733 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.20% of Mueller Water Products worth $8,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MWA. Optiver Holding B.V. purchased a new position in Mueller Water Products during the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC increased 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 buying an additional 1,113 shares during the period. Byrne Asset Management LLC increased 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 buying an additional 658 shares during the period. Olde Wealth Management LLC bought a new position in shares of Mueller Water Products during the first quarter valued at approximately $42,000. Finally, Millstone Evans Group LLC purchased a new stake in Mueller Water Products in the fourth quarter worth $63,000. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Mueller Water Products currently has a consensus rating of "Hold" and a consensus target price of $26.25.

Insider Buying and Selling

In other news, Director Brian Slobodow sold 7,376 shares of the business's stock in a transaction that occurred 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 can be accessed through this link. Also, Director Brian C. Healy bought 1,110 shares of the company's stock in a transaction on Monday, July 7th. The stock was bought at an average cost of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the acquisition, the director directly 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 Stock Up 0.4%

MWA stock traded up $0.11 during midday trading on Thursday, hitting $24.67. The stock had a trading volume of 628,159 shares, compared to its average volume of 1,873,896. The business has a 50-day moving average of $24.48 and a two-hundred day moving average of $24.89. 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 cap of $3.87 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.32 and a beta of 1.18. Mueller Water Products has a 52-week low of $18.55 and a 52-week high of $28.58.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its earnings results on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $364.30 million for the quarter, compared to analysts' expectations of $352.30 million. Mueller Water Products had a net margin of 10.48% and a return on equity of 21.31%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. As a group, equities research analysts forecast that Mueller Water Products will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, May 12th. Mueller Water Products's dividend payout ratio is 28.57%.

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.