Short Interest in Mueller Water Products (NYSE:MWA) Drops By 18.2%

Key Points

• Short interest in Mueller Water Products fell by 18.2% in March to 3,209,368 shares, equal to about 2.1% of the float and a short-interest ratio of 2.6 days.
• Mueller recently beat quarterly EPS estimates ($0.29 vs. $0.27) with revenue up 4.6% year-over-year, and analysts carry a consensus "Moderate Buy" view with an average price target of $31.33.
• Insider moves included Director Gregg C. Sengstack buying 25,000 shares and SVP Todd Helms selling 10,720 shares, while the company pays a $0.07 quarterly dividend (approx. 1.0% yield).

Mueller Water Products (NYSE:MWA - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 3,209,368 shares, a drop of 18.2% from the March 15th total of 3,923,798 shares. Based on an average daily volume of 1,216,054 shares, the short-interest ratio is currently 2.6 days. Approximately 2.1% of the company's shares are short sold.

Mueller Water Products Stock Down 2.3%

Mueller Water Products stock traded down $0.68 on Thursday, hitting $28.51. 914,282 shares of the stock traded hands, compared to its average volume of 1,067,265. The company has a current ratio of 4.02, a quick ratio of 2.55 and a debt-to-equity ratio of 0.44. The firm has a market cap of $4.46 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The business's fifty day simple moving average is $28.79 and its 200 day simple moving average is $26.41. Mueller Water Products has a 1 year low of $22.74 and a 1 year high of $31.00.

Mueller Water Products (NYSE:MWA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $318.20 million during the quarter, compared to analyst estimates of $315.26 million. Mueller Water Products had a return on equity of 22.34% and a net margin of 13.83%.The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, sell-side analysts forecast that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.28 annualized dividend and a yield of 1.0%. Mueller Water Products's dividend payout ratio (DPR) is currently 22.22%.

Insider Activity at Mueller Water Products

In other Mueller Water Products news, Director Gregg C. Sengstack purchased 25,000 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $29.58 per share, with a total value of $739,500.00. Following the completion of the purchase, the director directly owned 25,000 shares of the company's stock, valued at $739,500. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Todd P. Helms sold 10,720 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $27.61, for a total value of $295,979.20. Following the completion of the sale, the senior vice president directly owned 64,477 shares of the company's stock, valued at $1,780,209.97. The trade was a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mueller Water Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in MWA. Fiduciary Management Inc. WI purchased a new position in Mueller Water Products during the fourth quarter valued at $75,400,000. Amundi lifted its position in Mueller Water Products by 112.2% during the third quarter. Amundi now owns 2,267,340 shares of the industrial products company's stock valued at $58,099,000 after buying an additional 1,198,801 shares during the period. Assenagon Asset Management S.A. lifted its position in Mueller Water Products by 525.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,393,293 shares of the industrial products company's stock valued at $35,557,000 after buying an additional 1,170,683 shares during the period. Qube Research & Technologies Ltd lifted its position in Mueller Water Products by 344.1% during the second quarter. Qube Research & Technologies Ltd now owns 945,613 shares of the industrial products company's stock valued at $22,733,000 after buying an additional 732,669 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Mueller Water Products in the 4th quarter worth about $15,547,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird set a $33.00 price target on Mueller Water Products in a research note on Friday, February 6th. Royal Bank Of Canada raised their price target on Mueller Water Products from $27.00 to $29.00 and gave the stock a "sector perform" rating in a research note on Friday, February 6th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $32.00 price target (up from $30.00) on shares of Mueller Water Products in a research note on Monday, February 9th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $31.33.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company's portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company's operations are organized around two primary business segments.

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