Assenagon Asset Management S.A. Cuts Stake in Mueller Water Products $MWA

Assenagon Asset Management S.A. reduced its holdings in shares of Mueller Water Products (NYSE:MWA) by 39.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 843,272 shares of the industrial products company’s stock after selling 550,021 shares during the period. Assenagon Asset Management S.A.’s holdings in Mueller Water Products were worth $20,087,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Covestor Ltd boosted its stake in shares of Mueller Water Products by 131.8% in the 3rd quarter. Covestor Ltd now owns 1,050 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 597 shares in the last quarter. Quarry LP raised its position in Mueller Water Products by 398.0% in the 3rd quarter. Quarry LP now owns 2,196 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 1,755 shares during the period. Nisa Investment Advisors LLC raised its position in Mueller Water Products by 31.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,427 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 575 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Mueller Water Products by 677.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,204 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 2,792 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Mueller Water Products by 21.7% during the third quarter. National Bank of Canada FI now owns 4,617 shares of the industrial products company’s stock valued at $118,000 after buying an additional 823 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Mueller Water Products

In other news, SVP Todd P. Helms sold 10,720 shares of Mueller Water Products stock in a transaction that occurred 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 sale, the senior vice president directly owned 64,477 shares in the company, valued at approximately $1,780,209.97. This trade represents a 14.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian C. Healy bought 1,125 shares of Mueller Water Products stock in a transaction dated Wednesday, January 7th. The shares were acquired at an average cost of $24.41 per share, for a total transaction of $27,461.25. Following the completion of the purchase, the director directly owned 17,925 shares of the company’s stock, valued at approximately $437,549.25. This trade represents a 6.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Mueller Water Products Trading Down 1.6%

NYSE:MWA opened at $27.77 on Friday. The firm has a market capitalization of $4.34 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.29 and a beta of 1.15. The company has a quick ratio of 2.55, a current ratio of 4.02 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $28.32 and a 200 day moving average of $26.08. Mueller Water Products has a 52 week low of $22.01 and a 52 week high of $31.00.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Wednesday, February 4th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $318.20 million for the quarter, compared to analyst estimates of $315.26 million. Mueller Water Products had a net margin of 13.83% and a return on equity of 22.34%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. On average, research analysts predict that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Tuesday, February 10th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, February 10th. Mueller Water Products’s payout ratio is currently 22.22%.

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.