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

Soviero Asset Management LP trimmed its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,000 shares of the industrial products company's stock after selling 10,000 shares during the period. Soviero Asset Management LP owned about 0.07% of Mueller Water Products worth $2,588,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MWA. Optiver Holding B.V. bought a new stake in shares of Mueller Water Products in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Mueller Water Products by 171.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 1,113 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Mueller Water Products in the 4th quarter valued at about $63,000. Gen Wealth Partners Inc bought a new stake in shares of Mueller Water Products in the 4th quarter valued at about $65,000. Finally, R Squared Ltd bought a new stake in shares of Mueller Water Products in the 4th quarter valued at about $100,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lydia W. Thomas sold 17,092 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $26.77, for a total transaction of $457,552.84. Following the sale, the director now owns 126,689 shares in the company, valued at approximately $3,391,464.53. This trade represents a 11.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian C. Healy purchased 1,085 shares of Mueller Water Products stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average price of $25.32 per share, for a total transaction of $27,472.20. Following the transaction, the director now directly owns 14,620 shares in the company, valued at $370,178.40. This represents a 8.02% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 35,600 shares of company stock worth $914,076. Corporate insiders own 1.10% of the company's stock.

Mueller Water Products Stock Performance

Mueller Water Products stock traded down $0.21 during trading hours on Thursday, hitting $24.39. The company had a trading volume of 1,217,019 shares, compared to its average volume of 1,573,960. The firm has a market cap of $3.82 billion, a PE ratio of 28.36, a PEG ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.83 and a quick ratio of 2.38. Mueller Water Products, Inc. has a one year low of $17.09 and a one year high of $28.58. The firm has a 50-day moving average of $25.45 and a 200 day moving average of $24.83.

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

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a dividend of $0.067 per share. The ex-dividend date was Monday, May 12th. This represents a $0.27 annualized dividend and a dividend yield of 1.10%. Mueller Water Products's dividend payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MWA. Wall Street Zen raised shares of Mueller Water Products from a "hold" rating to a "buy" rating in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped 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 report 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. According to MarketBeat, Mueller Water Products presently has a consensus rating of "Hold" and a consensus price target of $26.25.

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.