JPMorgan Chase & Co. Sells 101,797 Shares of Mueller Water Products $MWA

JPMorgan Chase & Co. cut its holdings in shares of Mueller Water Products (NYSE:MWA) by 15.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 542,468 shares of the industrial products company’s stock after selling 101,797 shares during the quarter. JPMorgan Chase & Co.’s holdings in Mueller Water Products were worth $13,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MWA. Covestor Ltd grew its position in Mueller Water Products by 131.8% during the third quarter. Covestor Ltd now owns 1,050 shares of the industrial products company’s stock valued at $27,000 after buying an additional 597 shares during the period. Nisa Investment Advisors LLC raised its position in Mueller Water Products by 31.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,427 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 575 shares during the period. AlphaQuest LLC purchased a new position in Mueller Water Products in the second quarter valued at about $71,000. EverSource Wealth Advisors LLC grew its position in shares of Mueller Water Products by 677.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,204 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 2,792 shares during the period. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Mueller Water Products during the 1st quarter worth approximately $205,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Todd P. Helms sold 10,720 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $29.72, for a total value of $318,598.40. Following the sale, the senior vice president directly owned 75,197 shares of the company’s stock, valued at $2,234,854.84. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian C. Healy purchased 1,125 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was bought at an average cost of $24.41 per share, with a total value of $27,461.25. Following the purchase, the director owned 17,925 shares in the company, valued at approximately $437,549.25. This represents a 6.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Mueller Water Products Stock Performance

NYSE:MWA opened at $29.54 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.55 and a current ratio of 4.02. Mueller Water Products has a 52-week low of $22.01 and a 52-week high of $31.00. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.35 and a beta of 1.15. The business’s fifty day moving average is $27.32 and its 200 day moving average is $25.93.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Wednesday, February 4th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $318.20 million during the quarter, compared to the consensus estimate of $315.26 million. Mueller Water Products had a return on equity of 22.34% and a net margin of 13.83%.The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. Research analysts predict that Mueller Water Products will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Tuesday, February 10th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.28 annualized dividend and a yield of 0.9%. Mueller Water Products’s payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

MWA has been the topic of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $32.00 price objective (up from $30.00) on shares of Mueller Water Products in a research note on Monday, February 9th. Royal Bank Of Canada boosted their target price on Mueller Water Products from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Friday, February 6th. Finally, Robert W. Baird set a $33.00 price target on Mueller Water Products in a research report on Friday, February 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Mueller Water Products Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company’s portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company’s operations are organized around two primary business segments.