Westfield Capital Management Co. LP Invests $53.85 Million in Mueller Water Products (NYSE:MWA)

Key Points

• Westfield Capital Management Co. LP has made a significant investment of $53.85 million in Mueller Water Products, acquiring over 2.1 million shares, which gives it a 1.35% stake in the company.
• Mueller Water Products recently received an upgrade from a "hold" to a "buy" rating by Wall Street Zen, amidst varying evaluations from other analysts, who maintain an average rating of "Hold."
• The company has declared a quarterly dividend of $0.067, reflecting a 1.1% annualized yield, with the ex-dividend date set for August 12th.

Westfield Capital Management Co. LP acquired a new position in Mueller Water Products (NYSE:MWA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,118,561 shares of the industrial products company's stock, valued at approximately $53,854,000. Westfield Capital Management Co. LP owned 1.35% of Mueller Water Products at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Mueller Water Products by 430.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,320 shares of the industrial products company's stock valued at $542,000 after purchasing an additional 17,298 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Mueller Water Products by 6.6% during the 1st quarter. Alberta Investment Management Corp now owns 212,811 shares of the industrial products company's stock valued at $5,410,000 after buying an additional 13,095 shares during the period. Menard Financial Group LLC purchased a new position in Mueller Water Products in the 1st quarter worth approximately $297,000. TradeLink Capital LLC acquired a new stake in Mueller Water Products in the first quarter valued at approximately $274,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Mueller Water Products during the first quarter valued at approximately $645,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Stock Down 1.2%

NYSE MWA traded down $0.32 during mid-day trading on Friday, reaching $25.59. 939,529 shares of the company's stock traded hands, compared to its average volume of 1,855,354. The company has a current ratio of 3.86, a quick ratio of 2.49 and a debt-to-equity ratio of 0.48. Mueller Water Products has a 1-year low of $19.23 and a 1-year high of $28.58. The company has a fifty day simple moving average of $24.47 and a 200-day simple moving average of $25.08. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 1.39 and a beta of 1.18.

Mueller Water Products (NYSE:MWA - Get Free Report) last released its earnings results on Monday, August 4th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $380.30 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. As a group, equities research analysts expect that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Tuesday, August 12th will be paid a dividend of $0.067 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.27 annualized dividend and a yield of 1.0%. Mueller Water Products's dividend payout ratio (DPR) is 27.66%.

Insider Transactions at Mueller Water Products

In other Mueller Water Products news, Director Brian C. Healy bought 1,110 shares of the stock in a transaction on Monday, July 7th. The stock was purchased at an average price of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the purchase, the director directly owned 15,730 shares in the company, valued at approximately $389,160.20. This trade represents a 7.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Mueller Water Products from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $26.25.

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.