Kempen Capital Management N.V. lifted its holdings in Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 152.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,394,000 shares of the industrial products company's stock after acquiring an additional 2,049,004 shares during the period. Mueller Water Products accounts for about 1.3% of Kempen Capital Management N.V.'s portfolio, making the stock its 22nd biggest holding. Kempen Capital Management N.V. owned approximately 2.16% of Mueller Water Products worth $43,851,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in MWA. Banque Cantonale Vaudoise boosted its stake in shares of Mueller Water Products by 43.7% in the first quarter. Banque Cantonale Vaudoise now owns 4,245 shares of the industrial products company's stock worth $54,000 after acquiring an additional 1,291 shares during the period. Kepos Capital LP bought a new position in Mueller Water Products during the fourth quarter valued at approximately $78,000. Glenview Trust Co boosted its stake in Mueller Water Products by 39.0% during the first quarter. Glenview Trust Co now owns 14,343 shares of the industrial products company's stock valued at $185,000 after buying an additional 4,027 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Mueller Water Products by 580.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,909 shares of the industrial products company's stock valued at $192,000 after buying an additional 12,719 shares during the last quarter. Finally, Sonen Capital LLC boosted its stake in Mueller Water Products by 4.5% during the first quarter. Sonen Capital LLC now owns 19,655 shares of the industrial products company's stock valued at $254,000 after buying an additional 845 shares during the last quarter. Institutional investors own 88.56% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Cowen dropped their price target on Mueller Water Products from $15.00 to $13.00 in a research note on Tuesday, June 28th. Cowen decreased their price objective on Mueller Water Products from $15.00 to $13.00 in a research report on Tuesday, June 28th. TheStreet upgraded Mueller Water Products from a "c+" rating to a "b" rating in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Mueller Water Products in a research report on Wednesday, August 17th. They set a "hold" rating and a $12.00 price objective on the stock. Finally, StockNews.com downgraded Mueller Water Products from a "buy" rating to a "hold" rating in a research report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $12.67.
Insiders Place Their Bets
In other Mueller Water Products 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 transaction, the director now directly owns 82,088 shares in the company, valued at approximately $985,056. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.
Mueller Water Products Trading Down 0.4 %
Shares of NYSE MWA traded down $0.04 during midday trading on Tuesday, hitting $10.97. The company's stock had a trading volume of 12,023 shares, compared to its average volume of 890,600. The company has a current ratio of 3.26, a quick ratio of 2.02 and a debt-to-equity ratio of 0.63. The business's 50 day moving average is $12.03 and its two-hundred day moving average is $12.20. Mueller Water Products, Inc. has a 12-month low of $10.88 and a 12-month high of $17.37. The firm has a market cap of $1.72 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29.
Mueller Water Products (NYSE:MWA – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The industrial products company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Mueller Water Products had a return on equity of 13.67% and a net margin of 7.25%. The business had revenue of $333.20 million during the quarter, compared to analysts' expectations of $330.29 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Mueller Water Products, Inc. will post 0.62 EPS for the current year.
Mueller Water Products Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $0.23 annualized dividend and a yield of 2.11%. Mueller Water Products's payout ratio is currently 41.07%.
Mueller Water Products Company Profile
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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.
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