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Raymond James & Associates Purchases 222,102 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Defense World · Sep 3, 2022 05:11

Raymond James & Associates boosted its position in Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 54.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 631,616 shares of the industrial products company's stock after purchasing an additional 222,102 shares during the period. Raymond James & Associates owned approximately 0.40% of Mueller Water Products worth $8,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Glenview Trust Co raised its stake in shares of 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 acquiring an additional 4,027 shares in the last quarter. Triodos Investment Management BV raised its stake in shares of Mueller Water Products by 2.0% during the first quarter. Triodos Investment Management BV now owns 1,275,000 shares of the industrial products company's stock valued at $16,473,000 after acquiring an additional 25,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Mueller Water Products by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,133,614 shares of the industrial products company's stock valued at $14,646,000 after acquiring an additional 62,212 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Mueller Water Products during the first quarter valued at approximately $324,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Mueller Water Products during the first quarter valued at approximately $1,125,000. Institutional investors own 88.56% of the company's stock.

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Wall Street Analyst Weigh In

MWA has been the subject of several research analyst reports. Cowen decreased their price target on shares of Mueller Water Products from $15.00 to $13.00 in a research note on Tuesday, June 28th. TheStreet raised shares of Mueller Water Products from a "c+" rating to a "b" rating in a research note on Tuesday, August 9th. Cowen cut their price objective on shares of Mueller Water Products from $15.00 to $13.00 in a report on Tuesday, June 28th. StockNews.com lowered shares of Mueller Water Products from a "buy" rating to a "hold" rating in a report on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mueller Water Products in a report on Wednesday, August 17th. They set a "hold" rating and a $12.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.67.

Mueller Water Products Stock Performance

Shares of MWA stock opened at $11.01 on Friday. The company's 50 day moving average is $12.03 and its 200 day moving average is $12.20. The company has a quick ratio of 2.02, a current ratio of 3.26 and a debt-to-equity ratio of 0.63. Mueller Water Products, Inc. has a 52-week low of $10.88 and a 52-week high of $17.37. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.55 and a beta of 1.26.

Mueller Water Products (NYSE:MWA – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The industrial products company reported $0.19 earnings per share (EPS) 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 firm had revenue of $333.20 million during the quarter, compared to analysts' expectations of $330.29 million. During the same period in the prior year, the firm posted $0.18 earnings per share. Mueller Water Products's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mueller Water Products, Inc. will post 0.62 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Wednesday, August 10th were issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 2.11%. The ex-dividend date was Tuesday, August 9th. Mueller Water Products's dividend payout ratio is currently 41.07%.

Insiders Place Their Bets

In other Mueller Water Products news, Director Thomas J. Hansen sold 12,578 shares of Mueller Water Products stock in a transaction on Friday, August 12th. The shares were sold at an average price of $12.00, for a total value of $150,936.00. Following the transaction, the director now directly owns 82,088 shares of the company's stock, valued at $985,056. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company's stock.

Mueller Water Products 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.