Signaturefd LLC acquired a new stake in shares of Mueller Water Products, Inc. (NYSE:MWA) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 14,588 shares of the industrial products company’s stock, valued at approximately $171,000.
A number of other hedge funds also recently modified their holdings of the stock. Brown Advisory Inc. acquired a new stake in Mueller Water Products in the second quarter worth about $24,053,000. BlackRock Inc. boosted its holdings in Mueller Water Products by 7.8% in the second quarter. BlackRock Inc. now owns 10,897,164 shares of the industrial products company’s stock worth $127,714,000 after acquiring an additional 786,122 shares in the last quarter. Crawford Investment Counsel Inc. boosted its holdings in Mueller Water Products by 224.5% in the first quarter. Crawford Investment Counsel Inc. now owns 957,321 shares of the industrial products company’s stock worth $10,406,000 after acquiring an additional 662,289 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Mueller Water Products in the first quarter worth about $6,567,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Mueller Water Products by 102.5% in the first quarter. The Manufacturers Life Insurance Company now owns 870,230 shares of the industrial products company’s stock worth $9,460,000 after acquiring an additional 440,449 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Mueller Water Products from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. DA Davidson reissued a “neutral” rating on shares of Mueller Water Products in a report on Friday, July 20th. Seaport Global Securities downgraded Mueller Water Products from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $12.50 in a report on Wednesday, August 8th. Oppenheimer reissued a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a report on Monday, August 6th. Finally, Nomura lowered their price target on Mueller Water Products from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.31.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Mueller Water Products had a return on equity of 15.67% and a net margin of 11.24%. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $246.01 million. During the same period last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts anticipate that Mueller Water Products, Inc. will post 0.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Friday, August 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, August 9th. Mueller Water Products’s payout ratio is 45.45%.
Mueller Water Products Company Profile
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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