Algert Global LLC Has $11.67 Million Stake in Mueller Water Products, Inc. (NYSE:MWA)

Algert Global LLC raised its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 382.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 537,566 shares of the industrial products company’s stock after purchasing an additional 426,038 shares during the quarter. Algert Global LLC’s holdings in Mueller Water Products were worth $11,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Mueller Water Products by 1.5% during the first quarter. Vanguard Group Inc. now owns 15,231,209 shares of the industrial products company’s stock valued at $245,070,000 after purchasing an additional 227,843 shares during the period. Victory Capital Management Inc. increased its position in shares of Mueller Water Products by 399.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,962,757 shares of the industrial products company’s stock valued at $53,093,000 after buying an additional 2,369,055 shares in the last quarter. Millennium Management LLC raised its stake in Mueller Water Products by 24.6% during 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 period. Charles Schwab Investment Management Inc. lifted its holdings in Mueller Water Products by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,944,715 shares of the industrial products company’s stock worth $42,200,000 after acquiring an additional 37,729 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Mueller Water Products by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 1,055,545 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 61,122 shares during the period. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen lowered Mueller Water Products from a “buy” rating to a “hold” rating and raised their price target for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. StockNews.com downgraded shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $27.00 price target (up previously from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. Finally, Royal Bank of Canada increased 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 research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.20.

Mueller Water Products Trading Up 0.8 %

NYSE:MWA opened at $25.18 on Friday. The company has a market cap of $3.93 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34. Mueller Water Products, Inc. has a twelve month low of $13.08 and a twelve month high of $26.28. The business has a 50 day moving average price of $22.50 and a two-hundred day moving average price of $20.33. The company has a quick ratio of 2.31, a current ratio of 3.33 and a debt-to-equity ratio of 0.55.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $348.20 million during the quarter, compared to analysts’ expectations of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.38%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, analysts expect that Mueller Water Products, Inc. will post 1.17 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were issued a $0.067 dividend. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, November 8th. This represents a $0.27 annualized dividend and a dividend yield of 1.06%. Mueller Water Products’s dividend payout ratio (DPR) is presently 36.99%.

Insider Buying and Selling

In related news, Director Lydia W. Thomas sold 10,791 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.40, for a total value of $263,300.40. Following the completion of the transaction, the director now directly owns 136,405 shares of the company’s stock, valued at approximately $3,328,282. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

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.