Soviero Asset Management LP Has $2.59 Million Stake in Mueller Water Products, Inc. (NYSE:MWA)

Soviero Asset Management LP decreased its holdings in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,000 shares of the industrial products company's stock after selling 10,000 shares during the quarter. Soviero Asset Management LP owned 0.07% of Mueller Water Products worth $2,588,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Mueller Water Products by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 16,954,587 shares of the industrial products company's stock valued at $381,478,000 after acquiring an additional 378,356 shares in the last quarter. First Trust Advisors LP increased its position in Mueller Water Products by 16.7% in the 4th quarter. First Trust Advisors LP now owns 4,174,938 shares of the industrial products company's stock valued at $93,936,000 after acquiring an additional 596,956 shares in the last quarter. Invesco Ltd. increased its position in 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 acquiring an additional 1,780,366 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Mueller Water Products by 7.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,248,990 shares of the industrial products company's stock valued at $73,102,000 after acquiring an additional 220,025 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Mueller Water Products by 2,962.3% in the 4th quarter. Principal Financial Group Inc. now owns 3,015,009 shares of the industrial products company's stock valued at $67,838,000 after acquiring an additional 2,916,552 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Mueller Water Products Stock Up 0.7%

Shares of NYSE:MWA traded up $0.16 during midday trading on Friday, hitting $24.58. The stock had a trading volume of 1,014,817 shares, compared to its average volume of 1,570,229. Mueller Water Products, Inc. has a 12 month low of $17.09 and a 12 month high of $28.58. The company has a quick ratio of 2.38, a current ratio of 3.83 and a debt-to-equity ratio of 0.54. The business's 50-day simple moving average is $25.38 and its 200-day simple moving average is $24.85. The company has a market cap of $3.85 billion, a P/E ratio of 28.58, a PEG ratio of 1.43 and a beta of 1.24.

Mueller Water Products (NYSE:MWA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The industrial products company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $364.30 million during the quarter, compared to analysts' expectations of $352.30 million. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. On average, sell-side analysts forecast that Mueller Water Products, Inc. will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were paid a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, May 12th. Mueller Water Products's dividend payout ratio (DPR) is presently 28.57%.

Analysts Set New Price Targets

Several research firms have weighed in on MWA. Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised their target price on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $26.25.

Insider Activity at Mueller Water Products

In other Mueller Water Products news, Director Lydia W. Thomas sold 17,092 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total transaction of $457,552.84. Following the completion of the transaction, the director now owns 126,689 shares of the company's stock, valued at approximately $3,391,464.53. The trade was a 11.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian C. Healy bought 1,085 shares of the stock in a transaction on Friday, May 16th. The shares were acquired at an average cost of $25.32 per share, with a total value of $27,472.20. Following the purchase, the director now owns 14,620 shares of the company's stock, valued at approximately $370,178.40. This represents a 8.02% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 35,600 shares of company stock valued at $914,076 over the last quarter. 1.10% of the stock is owned by corporate insiders.

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.