496,574 Shares in Mueller Water Products (NYSE:MWA) Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has made a new investment of approximately $12.62 million in Mueller Water Products, acquiring 496,574 shares in the 1st quarter of the year.
• Mueller Water Products was recently upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased investor confidence in the company.
• The company has announced a quarterly dividend of $0.067 per share, reflecting an annualized yield of 1.0% and a payout ratio of 28.72%.

Public Sector Pension Investment Board purchased a new stake in Mueller Water Products (NYSE:MWA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 496,574 shares of the industrial products company's stock, valued at approximately $12,623,000. Public Sector Pension Investment Board owned approximately 0.32% of Mueller Water Products at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. acquired a new stake in Mueller Water Products during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC boosted its position in Mueller Water Products by 171.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company's stock worth $40,000 after buying an additional 1,113 shares during the period. Byrne Asset Management LLC boosted its position in Mueller Water Products by 73.1% during the 1st quarter. Byrne Asset Management LLC now owns 1,558 shares of the industrial products company's stock worth $40,000 after buying an additional 658 shares during the period. Olde Wealth Management LLC acquired a new stake in Mueller Water Products during the 1st quarter worth approximately $42,000. Finally, Nisa Investment Advisors LLC boosted its position in Mueller Water Products by 184.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company's stock worth $43,000 after buying an additional 1,104 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Mueller Water Products Trading Down 1.2%

Mueller Water Products stock traded down $0.31 during mid-day trading on Friday, hitting $26.25. 613,153 shares of the stock were exchanged, compared to its average volume of 1,535,930. The firm's fifty day simple moving average is $24.71 and its two-hundred day simple moving average is $25.21. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.41 and a beta of 1.18. The company has a quick ratio of 2.56, a current ratio of 3.86 and a debt-to-equity ratio of 0.48. 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 released its quarterly earnings data 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 company had revenue of $380.30 million during the quarter, compared to the consensus estimate of $366.82 million. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The business's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. Analysts forecast that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th.

Insider Buying and Selling

In other Mueller Water Products news, Director Brian C. Healy purchased 1,110 shares of the firm's stock in a transaction 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 purchase, the director owned 15,730 shares of the company's stock, valued at $389,160.20. This trade represents a 7.59% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Mueller Water Products Company 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.