Cinctive Capital Management LP Takes Position in Mueller Water Products, Inc. (NYSE:MWA)

Cinctive Capital Management LP bought a new position in shares of Mueller Water Products, Inc. (NYSE:MWA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 51,306 shares of the industrial products company’s stock, valued at approximately $1,113,000.

Several other institutional investors and hedge funds have also bought and sold shares of MWA. Victory Capital Management Inc. grew its holdings in shares of Mueller Water Products by 399.0% during the second quarter. Victory Capital Management Inc. now owns 2,962,757 shares of the industrial products company’s stock worth $53,093,000 after purchasing an additional 2,369,055 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Mueller Water Products by 24.6% in the 2nd quarter. Millennium Management LLC now owns 1,999,869 shares of the industrial products company’s stock worth $35,838,000 after buying an additional 395,123 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Mueller Water Products by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,944,715 shares of the industrial products company’s stock valued at $42,200,000 after buying an additional 37,729 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mueller Water Products by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,545 shares of the industrial products company’s stock worth $18,915,000 after acquiring an additional 61,122 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Mueller Water Products by 194.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,033,939 shares of the industrial products company’s stock worth $18,528,000 after acquiring an additional 682,740 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mueller Water Products

In other Mueller Water Products news, Director Lydia W. Thomas sold 10,791 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.40, for a total transaction of $263,300.40. Following the transaction, the director now owns 136,405 shares in the company, valued at approximately $3,328,282. This represents a 7.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Todd P. Helms sold 3,556 shares of Mueller Water Products stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.02, for a total value of $88,971.12. Following the sale, the senior vice president now owns 38,683 shares in the company, valued at $967,848.66. This represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MWA shares. TD Cowen lowered Mueller Water Products from a “buy” rating to a “hold” rating and lifted their price target for the stock from $19.00 to $20.00 in a research note on Friday, August 9th. StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $27.00 target price (up previously from $26.00) on shares of Mueller Water Products in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Mueller Water Products has a consensus rating of “Hold” and an average price target of $22.20.

Mueller Water Products Stock Down 0.0 %

Shares of NYSE MWA opened at $25.57 on Wednesday. The firm’s fifty day moving average is $23.21 and its 200 day moving average is $20.72. Mueller Water Products, Inc. has a 52 week low of $13.40 and a 52 week high of $26.28. The company has a quick ratio of 2.16, a current ratio of 3.33 and a debt-to-equity ratio of 0.55. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 1.45 and a beta of 1.37.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $348.20 million during the quarter, compared to the consensus estimate of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.38%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that Mueller Water Products, Inc. will post 1.17 earnings per share for the current year.

Mueller Water Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were paid a dividend of $0.067 per share. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.05%. Mueller Water Products’s payout ratio is presently 36.99%.

Mueller Water Products Company Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.