Nuveen LLC Buys New Holdings in Mueller Water Products (NYSE:MWA)

Key Points

• Nuveen LLC acquired a new stake in Mueller Water Products by purchasing 2,419,247 shares valued at approximately $61.5 million, gaining about 1.54% ownership in the company.
• Mueller Water Products reported a 6.6% increase in revenue year-over-year, despite missing earnings per share estimates in its latest quarterly report.
• The company announced a quarterly dividend of $0.067 per share, representing a yield of 1.0%, to be paid on August 21st.

Nuveen LLC purchased a new stake in shares of Mueller Water Products (NYSE:MWA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,419,247 shares of the industrial products company's stock, valued at approximately $61,497,000. Nuveen LLC owned 1.54% of Mueller Water Products as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC boosted its holdings in 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 purchasing an additional 658 shares in the last quarter. Xponance Inc. boosted its holdings in Mueller Water Products by 6.0% during the first quarter. Xponance Inc. now owns 11,726 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 660 shares in the last quarter. Summit Global Investments boosted its holdings in Mueller Water Products by 1.3% during the first quarter. Summit Global Investments now owns 54,437 shares of the industrial products company's stock valued at $1,384,000 after purchasing an additional 687 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Mueller Water Products by 3.0% during the fourth quarter. Baird Financial Group Inc. now owns 24,702 shares of the industrial products company's stock valued at $556,000 after purchasing an additional 722 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Mueller Water Products by 5.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 16,255 shares of the industrial products company's stock valued at $366,000 after purchasing an additional 768 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors.

Insider Activity at Mueller Water Products

In other news, Director Brian C. Healy acquired 1,110 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average price of $24.74 per share, for a total transaction of $27,461.40. Following the transaction, the director directly owned 15,730 shares in the company, valued at approximately $389,160.20. This represents a 7.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Mueller Water Products Trading Down 1.2%

Shares of MWA stock traded down $0.31 during trading hours on Friday, reaching $26.25. The company had a trading volume of 613,153 shares, compared to its average volume of 1,535,930. The company has a 50 day moving average of $24.71 and a 200 day moving average of $25.22. 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 market cap of $4.10 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.39 and a beta of 1.18. Mueller Water Products has a 1-year low of $19.23 and a 1-year high of $28.58.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Mueller Water Products from a "hold" rating to a "buy" rating in a 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.