Mueller Water Products, Inc. (NYSE:MWA) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lowered its stake in shares of Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,289 shares of the industrial products company’s stock after selling 52,389 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Mueller Water Products worth $2,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Mueller Water Products by 1.1% during the third quarter. BlackRock Inc. now owns 11,998,357 shares of the industrial products company’s stock worth $123,225,000 after purchasing an additional 134,558 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Mueller Water Products by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,200,300 shares of the industrial products company’s stock valued at $53,408,000 after acquiring an additional 17,773 shares during the last quarter. Eaton Vance Management raised its holdings in Mueller Water Products by 21.0% in the 1st quarter. Eaton Vance Management now owns 3,984,187 shares of the industrial products company’s stock valued at $51,476,000 after acquiring an additional 690,788 shares during the last quarter. State Street Corp raised its holdings in Mueller Water Products by 3.2% in the 1st quarter. State Street Corp now owns 3,483,104 shares of the industrial products company’s stock valued at $45,002,000 after acquiring an additional 109,494 shares during the last quarter. Finally, Robeco Schweiz AG raised its holdings in Mueller Water Products by 4.5% in the 1st quarter. Robeco Schweiz AG now owns 2,097,177 shares of the industrial products company’s stock valued at $27,096,000 after acquiring an additional 90,000 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

MWA has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $11.00 to $19.00 in a report on Friday, May 5th. DA Davidson restated a “neutral” rating on shares of Mueller Water Products in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of Mueller Water Products from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, February 6th. StockNews.com started coverage on shares of Mueller Water Products in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Mueller Water Products from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.57.

Mueller Water Products Stock Performance

Shares of MWA stock opened at $13.56 on Friday. The company has a quick ratio of 1.68, a current ratio of 3.15 and a debt-to-equity ratio of 0.65. Mueller Water Products, Inc. has a 52 week low of $9.90 and a 52 week high of $14.98. The stock has a market capitalization of $2.12 billion, a PE ratio of 27.12, a P/E/G ratio of 1.80 and a beta of 1.30. The firm has a 50 day moving average of $13.47 and a two-hundred day moving average of $12.55.

Mueller Water Products (NYSE:MWA – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $332.90 million during the quarter, compared to analysts’ expectations of $332.45 million. Mueller Water Products had a net margin of 5.90% and a return on equity of 12.75%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. On average, research analysts predict that Mueller Water Products, Inc. will post 0.68 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.80%. Mueller Water Products’s dividend payout ratio (DPR) is currently 48.00%.

Mueller Water Products Company Profile

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Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution, and measurement of water. It operates through the Water Flow Solutions and Water Management Solutions segments. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products.