Norges Bank Buys Shares of 637,801 Mueller Water Products $MWA

Key Points

• Norges Bank opened a new position in Mueller Water Products, buying 637,801 shares worth about $15.2 million in the fourth quarter and representing 0.41% of the company.
• Institutional interest in MWA remains high, with hedge funds and other investors owning 91.68% of the stock. Several firms recently increased their stakes, while analysts currently view the shares as Moderate Buy with a consensus target price of $31.25.
• Mueller Water Products also saw mixed insider activity and solid operating metrics: a director bought shares in May, while an SVP sold shares in March. The stock was trading at $26.15, and the company recently reported quarterly EPS of $2.16 and paid a $0.07 quarterly dividend.

Norges Bank bought a new stake in Mueller Water Products (NYSE:MWA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 637,801 shares of the industrial products company's stock, valued at approximately $15,192,000. Norges Bank owned 0.41% of Mueller Water Products as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Danske Bank A S lifted its holdings in Mueller Water Products by 266.7% in the fourth quarter. Danske Bank A S now owns 1,100 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 800 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Mueller Water Products in the fourth quarter valued at $34,000. Quarry LP increased its position in shares of Mueller Water Products by 398.0% in the third quarter. Quarry LP now owns 2,196 shares of the industrial products company's stock valued at $56,000 after buying an additional 1,755 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Mueller Water Products by 677.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,204 shares of the industrial products company's stock valued at $77,000 after buying an additional 2,792 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Mueller Water Products by 21.7% in the third quarter. National Bank of Canada FI now owns 4,617 shares of the industrial products company's stock valued at $118,000 after buying an additional 823 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Wall Street Analyst Weigh In

MWA has been the subject of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Water Products in a research report on Tuesday, May 19th. The Goldman Sachs Group restated a "neutral" rating and issued a $29.00 price target on shares of Mueller Water Products in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada raised their price target on Mueller Water Products from $30.00 to $31.00 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Mueller Water Products has a consensus rating of "Moderate Buy" and a consensus target price of $31.25.

Insider Transactions at Mueller Water Products

In related news, Director Brian C. Healy acquired 1,166 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $25.75 per share, for a total transaction of $30,024.50. Following the transaction, the director owned 23,763 shares in the company, valued at $611,897.25. This trade represents a 5.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Todd P. Helms sold 10,720 shares of Mueller Water Products stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $27.61, for a total value of $295,979.20. Following the sale, the senior vice president owned 64,477 shares of the company's stock, valued at approximately $1,780,209.97. This represents a 14.26% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company's stock.

Mueller Water Products Trading Up 3.1%

Shares of MWA stock opened at $26.15 on Wednesday. Mueller Water Products has a fifty-two week low of $22.74 and a fifty-two week high of $31.00. The stock has a market cap of $4.09 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.15 and a beta of 1.03. The business has a fifty day simple moving average of $26.96 and a 200-day simple moving average of $26.75. The company has a quick ratio of 2.92, a current ratio of 4.57 and a debt-to-equity ratio of 0.42.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter. The business had revenue of $1.19 billion during the quarter. Mueller Water Products had a return on equity of 22.11% and a net margin of 14.17%. On average, analysts forecast that Mueller Water Products will post 1.47 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, May 11th. Mueller Water Products's dividend payout ratio (DPR) is currently 21.37%.

Mueller Water Products Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company's portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company's operations are organized around two primary business segments.

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