Mutual of America Capital Management LLC Invests $580,000 in Mueller Water Products (NYSE:MWA)

Key Points

• Mutual of America Capital Management LLC acquired a new position in Mueller Water Products by purchasing 22,803 shares valued at approximately $580,000 during the first quarter.
• In the same time frame, Vanguard Group Inc. increased its stake in Mueller Water Products by 16.8%, owning nearly 19.8 million shares worth around $503 million.
• Mueller Water Products announced a quarterly dividend of $0.067 per share, resulting in an annualized dividend yield of 1.0% and a dividend payout ratio of 28.72%.

Mutual of America Capital Management LLC purchased a new position in Mueller Water Products (NYSE:MWA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,803 shares of the industrial products company's stock, valued at approximately $580,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Mueller Water Products by 16.8% in the 1st quarter. Vanguard Group Inc. now owns 19,795,482 shares of the industrial products company's stock valued at $503,201,000 after purchasing an additional 2,840,895 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Mueller Water Products in the 1st quarter valued at $53,854,000. Invesco Ltd. boosted its stake in shares of Mueller Water Products by 79.7% in the 4th quarter. Invesco Ltd. now owns 4,014,131 shares of the industrial products company's stock valued at $90,318,000 after purchasing an additional 1,780,366 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Mueller Water Products by 95.4% in the 1st quarter. Allianz Asset Management GmbH now owns 3,212,850 shares of the industrial products company's stock valued at $81,671,000 after purchasing an additional 1,568,247 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Mueller Water Products by 49.4% in the 4th quarter. Ameriprise Financial Inc. now owns 2,688,962 shares of the industrial products company's stock valued at $60,502,000 after purchasing an additional 888,591 shares in the last quarter. Institutional investors own 91.68% of the company's stock.

Insiders Place Their Bets

In other news, Director Brian C. Healy purchased 1,110 shares of the company's stock in a transaction 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 transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Mueller Water Products Trading Down 1.2%

MWA traded down $0.31 during trading on Friday, hitting $26.25. 613,153 shares of the stock traded hands, compared to its average volume of 1,535,930. The firm has a market capitalization of $4.10 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56. The firm has a 50-day moving average of $24.71 and a 200 day moving average of $25.21. Mueller Water Products has a 12-month low of $19.23 and a 12-month high of $28.58.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $380.30 million for the quarter, compared to analysts' expectations of $366.82 million. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities research analysts anticipate that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.067 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.27 annualized dividend and a yield of 1.0%. Mueller Water Products's dividend payout ratio is presently 28.72%.

Analyst Upgrades and Downgrades

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.

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.