First Trust Advisors LP cut its stake in Mueller Water Products, Inc. (NYSE:MWA) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293,387 shares of the industrial products company’s stock after selling 181,694 shares during the period. First Trust Advisors LP owned 0.82% of Mueller Water Products worth $14,887,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of MWA. Fortaleza Asset Management Inc. acquired a new stake in Mueller Water Products in the second quarter valued at $128,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Mueller Water Products during the second quarter worth $157,000. Signaturefd LLC acquired a new stake in shares of Mueller Water Products during the second quarter worth $171,000. UMB Bank N A MO acquired a new stake in shares of Mueller Water Products during the third quarter worth $172,000. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of Mueller Water Products during the second quarter worth $239,000. 86.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:MWA opened at $11.28 on Friday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. Mueller Water Products, Inc. has a 1-year low of $9.59 and a 1-year high of $12.96. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.91 and a current ratio of 5.13.
Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, November 5th. The industrial products company reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. The company had revenue of $254.30 million for the quarter, compared to analysts’ expectations of $239.79 million. Mueller Water Products had a net margin of 11.53% and a return on equity of 15.84%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, equities research analysts anticipate that Mueller Water Products, Inc. will post 0.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, November 9th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.77%. Mueller Water Products’s dividend payout ratio (DPR) is presently 37.74%.
A number of brokerages have weighed in on MWA. Oppenheimer reissued a “buy” rating on shares of Mueller Water Products in a report on Monday, November 5th. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Berenberg Bank began coverage on shares of Mueller Water Products in a report on Wednesday, October 3rd. They set a “buy” rating and a $15.00 target price on the stock. Nomura dropped their target price on shares of Mueller Water Products from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 12th. Finally, Seaport Global Securities cut shares of Mueller Water Products from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $12.50 in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Mueller Water Products has an average rating of “Hold” and a consensus target price of $13.36.
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About Mueller Water Products
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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