Oppenheimer & Co. Inc. Decreases Stake in Mueller Water Products $MWA

Oppenheimer & Co. Inc. reduced its stake in shares of Mueller Water Products (NYSE:MWA) by 69.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,421 shares of the industrial products company’s stock after selling 30,544 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mueller Water Products were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. lifted its position in Mueller Water Products by 39.4% during the 3rd quarter. Alps Advisors Inc. now owns 18,212 shares of the industrial products company’s stock worth $465,000 after acquiring an additional 5,146 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Mueller Water Products by 4.6% in the third quarter. Envestnet Asset Management Inc. now owns 557,190 shares of the industrial products company’s stock worth $14,219,000 after purchasing an additional 24,611 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Mueller Water Products by 142.6% during the third quarter. AlphaQuest LLC now owns 7,151 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 4,203 shares during the period. Arizona State Retirement System boosted its position in Mueller Water Products by 1.4% in the third quarter. Arizona State Retirement System now owns 46,362 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 660 shares during the last quarter. Finally, Summit Global Investments increased its holdings in Mueller Water Products by 26.2% in the 3rd quarter. Summit Global Investments now owns 17,110 shares of the industrial products company’s stock worth $437,000 after buying an additional 3,547 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Trading Down 0.7%

MWA stock opened at $29.93 on Thursday. The company has a current ratio of 4.02, a quick ratio of 2.55 and a debt-to-equity ratio of 0.44. Mueller Water Products has a 12-month low of $22.01 and a 12-month high of $30.47. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.38 and a beta of 1.17. The business’s 50-day moving average is $26.33 and its 200 day moving average is $25.66.

Mueller Water Products (NYSE:MWA) last posted 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. Mueller Water Products had a return on equity of 22.34% and a net margin of 13.83%.The firm had revenue of $318.20 million during the quarter, compared to the consensus estimate of $315.26 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Mueller Water Products’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Mueller Water Products from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Friday, February 6th. Oppenheimer reiterated an “outperform” rating and set a $32.00 price objective (up previously from $30.00) on shares of Mueller Water Products in a research note on Monday, February 9th. Finally, Robert W. Baird set a $33.00 price objective on shares of Mueller Water Products in a research note on Friday, February 6th. Two 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 stock has a consensus rating of “Moderate Buy” and an average target price of $31.33.

Insider Buying and Selling

In other Mueller Water Products news, Director Brian C. Healy purchased 1,125 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was bought at an average price of $24.41 per share, with a total value of $27,461.25. Following the transaction, the director directly owned 17,925 shares of the company’s stock, valued at approximately $437,549.25. This represents a 6.70% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Todd P. Helms sold 15,094 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.62, for a total value of $371,614.28. Following the sale, the senior vice president directly owned 85,917 shares in the company, valued at $2,115,276.54. This represents a 14.94% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

About Mueller Water Products

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.