State of Alaska Department of Revenue Purchases New Position in Mueller Water Products (NYSE:MWA)

State of Alaska Department of Revenue acquired a new stake in Mueller Water Products (NYSE:MWA - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 86,770 shares of the industrial products company's stock, valued at approximately $2,205,000. State of Alaska Department of Revenue owned approximately 0.06% of Mueller Water Products at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. grew its position in shares of Mueller Water Products by 79.7% in the fourth quarter. Invesco Ltd. now owns 4,014,131 shares of the industrial products company's stock valued at $90,318,000 after purchasing an additional 1,780,366 shares in the last quarter. Norges Bank bought a new stake in shares of Mueller Water Products during the fourth quarter valued at about $20,996,000. Ameriprise Financial Inc. increased its position in shares of Mueller Water Products by 49.4% during the fourth quarter. Ameriprise Financial Inc. now owns 2,688,962 shares of the industrial products company's stock valued at $60,502,000 after buying an additional 888,591 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Mueller Water Products by 514.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 970,055 shares of the industrial products company's stock valued at $21,826,000 after acquiring an additional 812,127 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Mueller Water Products by 55.1% in the fourth quarter. American Century Companies Inc. now owns 2,056,632 shares of the industrial products company's stock valued at $46,274,000 after acquiring an additional 730,442 shares during the period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Water Products

In other Mueller Water Products news, Director Brian Slobodow sold 7,376 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $24.57, for a total value of $181,228.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian C. Healy purchased 1,085 shares of the stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $25.32 per share, with a total value of $27,472.20. Following the completion of the purchase, the director now directly owns 14,620 shares of the company's stock, valued at $370,178.40. The trade was a 8.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Mueller Water Products Price Performance

MWA stock opened at $23.31 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.79 and a quick ratio of 2.49. Mueller Water Products has a one year low of $17.30 and a one year high of $28.58. The stock has a market cap of $3.65 billion, a PE ratio of 25.62, a P/E/G ratio of 1.26 and a beta of 1.21. The firm has a 50 day simple moving average of $24.89 and a two-hundred day simple moving average of $24.72.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its quarterly earnings data 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 10.48% and a return on equity of 21.31%. The company had revenue of $364.30 million during the quarter, compared to the consensus estimate of $352.30 million. During the same period in the previous year, the firm posted $0.30 EPS. The firm's revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, May 12th. Mueller Water Products's dividend payout ratio is currently 29.67%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Mueller Water Products from a "buy" rating to a "hold" rating in a research report on Sunday, June 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Mueller Water Products presently has a consensus rating of "Hold" and a consensus target price 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.

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