Mueller Water Products, Inc. (MWA) Short Interest Down 43.2% in December
Mueller Water Products, Inc. (NYSE:MWA) was the recipient of a significant drop in short interest during the month of December. As of December 29th, there was short interest totalling 1,279,539 shares, a drop of 43.2% from the December 15th total of 2,250,937 shares. Based on an average daily trading volume, of 878,093 shares, the short-interest ratio is presently 1.5 days. Currently, 0.8% of the company’s shares are sold short.
In other news, insider Gregory E. Hyland sold 142,243 shares of Mueller Water Products stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $12.37, for a total transaction of $1,759,545.91. Following the transaction, the insider now owns 979,481 shares in the company, valued at approximately $12,116,179.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Evan Hart sold 50,000 shares of Mueller Water Products stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $12.10, for a total value of $605,000.00. Following the transaction, the chief financial officer now owns 321,247 shares in the company, valued at approximately $3,887,088.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 693,656 shares of company stock worth $8,514,160. Company insiders own 3.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MWA. Earnest Partners LLC boosted its stake in Mueller Water Products by 18.2% in the 2nd quarter. Earnest Partners LLC now owns 8,136,500 shares of the industrial products company’s stock valued at $95,034,000 after purchasing an additional 1,251,546 shares during the period. Lazard Asset Management LLC bought a new stake in Mueller Water Products in the 2nd quarter valued at $8,803,000. Dimensional Fund Advisors LP boosted its stake in Mueller Water Products by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,306,195 shares of the industrial products company’s stock valued at $73,657,000 after purchasing an additional 745,251 shares during the period. Jennison Associates LLC boosted its stake in Mueller Water Products by 45.0% in the 3rd quarter. Jennison Associates LLC now owns 2,348,643 shares of the industrial products company’s stock valued at $30,063,000 after purchasing an additional 729,104 shares during the period. Finally, Nordea Investment Management AB bought a new stake in Mueller Water Products in the 2nd quarter valued at $5,969,000. Institutional investors and hedge funds own 84.03% of the company’s stock.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $226.90 million for the quarter, compared to analyst estimates of $227.14 million. Mueller Water Products had a return on equity of 15.43% and a net margin of 14.93%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. analysts anticipate that Mueller Water Products will post 0.54 earnings per share for the current fiscal year.
Several equities research analysts have commented on MWA shares. Cowen restated a “hold” rating and issued a $12.00 target price on shares of Mueller Water Products in a research note on Thursday, September 21st. Boenning Scattergood restated a “buy” rating and issued a $14.00 target price on shares of Mueller Water Products in a research note on Thursday, November 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $15.00 price target on shares of Mueller Water Products in a research report on Thursday, December 28th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating and set a $14.00 price target on shares of Mueller Water Products in a research report on Friday, November 10th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $14.00 price target on shares of Mueller Water Products in a research report on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Mueller Water Products presently has a consensus rating of “Buy” and a consensus price target of $14.00.
Mueller Water Products Company Profile
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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