Oak Ridge Investments LLC Acquires Shares of 105,433 Mueller Water Products $MWA

Key Points

• Oak Ridge Investments LLC acquired 105,433 shares of Mueller Water Products for approximately $2.5 million, representing about 0.07% of the company as of the latest SEC filing.
• Several hedge funds increased their stakes in Mueller Water Products, with Byrne Asset Management LLC leading with a 73.1% increase in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" on Mueller Water Products, with an average price target of $28.33.

Oak Ridge Investments LLC acquired a new stake in Mueller Water Products (NYSE:MWA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 105,433 shares of the industrial products company's stock, valued at approximately $2,535,000. Oak Ridge Investments LLC owned about 0.07% of Mueller Water Products as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MWA. 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 purchased a new position in shares of Mueller Water Products during the first quarter valued at approximately $42,000. Nisa Investment Advisors LLC increased its stake in shares of Mueller Water Products by 184.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company's stock valued at $43,000 after buying an additional 1,104 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Mueller Water Products by 177.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,635 shares of the industrial products company's stock valued at $67,000 after buying an additional 1,686 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Mueller Water Products during the first quarter valued at approximately $73,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MWA. Wall Street Zen raised Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Water Products in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

Mueller Water Products Trading Down 0.9%

Mueller Water Products stock opened at $24.92 on Friday. The company has a current ratio of 3.86, a quick ratio of 2.56 and a debt-to-equity ratio of 0.48. The business's fifty day simple moving average is $25.86 and its two-hundred day simple moving average is $25.14. Mueller Water Products has a 12 month low of $21.35 and a 12 month high of $28.58. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Mueller Water Products (NYSE:MWA - Get Free Report) last released its earnings results on Thursday, February 24th. The industrial products company reported $0.11 EPS for the quarter. Mueller Water Products had a return on equity of 20.89% and a net margin of 10.67%.The business had revenue of $237.40 million for the quarter. As a group, equities analysts predict that Mueller Water Products will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th were issued a $0.067 dividend. This represents a $0.27 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 12th. Mueller Water Products's payout ratio is 27.66%.

Insiders Place Their Bets

In other news, Director Thomas J. Hansen sold 24,005 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $26.15, for a total transaction of $627,730.75. Following the transaction, the director directly owned 86,163 shares of the company's stock, valued at $2,253,162.45. This represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Suzanne G. Smith sold 1,288 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $26.91, for a total value of $34,660.08. Following the transaction, the chief accounting officer directly owned 763 shares in the company, valued at approximately $20,532.33. The trade was a 62.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,664 shares of company stock valued at $909,819. 1.10% of the stock is currently owned by corporate insiders.

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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