Mirae Asset Global Investments Co. Ltd. grew its stake in Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 5.8% during the 1st quarter, HoldingsChannel reports. The firm owned 1,133,614 shares of the industrial products company’s stock after acquiring an additional 62,212 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Mueller Water Products were worth $14,646,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MWA. Teacher Retirement System of Texas grew its position in Mueller Water Products by 20.2% during the 4th quarter. Teacher Retirement System of Texas now owns 30,699 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 5,154 shares during the last quarter. Nuveen Asset Management LLC grew its position in Mueller Water Products by 3.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,083,003 shares of the industrial products company’s stock worth $15,596,000 after acquiring an additional 32,288 shares during the last quarter. Citigroup Inc. grew its position in Mueller Water Products by 78.1% during the 4th quarter. Citigroup Inc. now owns 87,045 shares of the industrial products company’s stock worth $1,253,000 after acquiring an additional 38,167 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Mueller Water Products by 4.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,050,000 shares of the industrial products company’s stock worth $26,486,000 after acquiring an additional 90,000 shares during the last quarter. Finally, US Bancorp DE grew its position in Mueller Water Products by 4.5% during the 1st quarter. US Bancorp DE now owns 70,455 shares of the industrial products company’s stock worth $911,000 after acquiring an additional 3,033 shares during the last quarter. 88.56% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on MWA shares. Northcoast Research initiated coverage on Mueller Water Products in a research report on Friday, July 15th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Mueller Water Products in a research report on Wednesday, August 17th. They issued a “hold” rating and a $12.00 price objective on the stock. Cowen decreased their price objective on Mueller Water Products from $15.00 to $13.00 in a research report on Tuesday, June 28th. Cowen cut their price target on Mueller Water Products from $15.00 to $13.00 in a research note on Tuesday, June 28th. Finally, StockNews.com downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.67.
Mueller Water Products Stock Performance
Mueller Water Products (NYSE:MWA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The industrial products company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $333.20 million for the quarter, compared to analyst estimates of $330.29 million. Mueller Water Products had a return on equity of 13.67% and a net margin of 7.25%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. On average, research analysts predict that Mueller Water Products, Inc. will post 0.62 EPS for the current year.
Mueller Water Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Wednesday, August 10th were paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, August 9th. Mueller Water Products’s payout ratio is presently 41.07%.
Insider Buying and Selling
In related news, Director Thomas J. Hansen sold 12,578 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $12.00, for a total transaction of $150,936.00. Following the sale, the director now owns 82,088 shares of the company’s stock, valued at approximately $985,056. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.
Mueller Water Products Company Profile
Mueller Water Products Inc manufactures and markets products and services used in the transmission, distribution, and measurement of water in North America and internationally. Its products and services are used by municipalities, and the residential and non-residential construction industries. It operates through two segments, Infrastructure and Technologies.
- Get a free copy of the StockNews.com research report on Mueller Water Products (MWA)
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