Mueller Water Products $MWA Shares Bought by Candriam S.C.A.

Candriam S.C.A. raised its holdings in Mueller Water Products (NYSE:MWA) by 36.0% during the third quarter, Holdings Channel.com reports. The firm owned 263,219 shares of the industrial products company’s stock after purchasing an additional 69,677 shares during the quarter. Candriam S.C.A.’s holdings in Mueller Water Products were worth $5,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Mueller Water Products by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,487 shares of the industrial products company’s stock worth $116,000 after buying an additional 421 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Mueller Water Products by 3.8% in the 2nd quarter. Wedbush Securities Inc. now owns 12,308 shares of the industrial products company’s stock valued at $318,000 after buying an additional 447 shares during the period. Smith Group Asset Management LLC boosted its stake in shares of Mueller Water Products by 1.6% in the third quarter. Smith Group Asset Management LLC now owns 33,586 shares of the industrial products company’s stock valued at $713,000 after buying an additional 536 shares in the last quarter. Vise Technologies Inc. boosted its stake in shares of Mueller Water Products by 4.7% in the third quarter. Vise Technologies Inc. now owns 14,949 shares of the industrial products company’s stock valued at $318,000 after buying an additional 670 shares in the last quarter. Finally, RWC Asset Management LLP boosted its stake in shares of Mueller Water Products by 3.5% in the third quarter. RWC Asset Management LLP now owns 23,291 shares of the industrial products company’s stock valued at $495,000 after buying an additional 778 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Insider Buying and Selling at Mueller Water Products

In related news, Director Christine Ortiz sold 12,048 shares of Mueller Water Products stock in a transaction on Monday, August 31st. The stock was sold at an average price of $24.23, for a total transaction of $291,923.04. Following the completion of the transaction, the director directly owned 30,824 shares of the company’s stock, valued at approximately $746,865.52. The trade was a 28.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Healy bought 1,376 shares of the firm’s stock in a transaction on Wednesday, October 7th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $29,928.00. Following the completion of the transaction, the director owned 26,322 shares of the company’s stock, valued at $572,503.50. This represents a 5.52% increase in their position. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Mueller Water Products Trading Down 0.4%

Shares of Mueller Water Products stock opened at $24.36 on Wednesday. The company has a 50-day moving average of $22.56 and a two-hundred day moving average of $25.78. Mueller Water Products has a 12-month low of $20.90 and a 12-month high of $31.00. The company has a current ratio of 4.45, a quick ratio of 3.01 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.80 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.99.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $376.50 million for the quarter, compared to analyst estimates of $375.51 million. Mueller Water Products had a return on equity of 22.58% and a net margin of 15.04%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. On average, research analysts anticipate that Mueller Water Products will post 1.59 EPS for the current fiscal year.

Mueller Water Products announced that its board has approved a stock repurchase program on Thursday, October 22nd that allows the company to buy back $300 million in shares. This repurchase authorization allows the industrial products company to purchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Mueller Water Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.07. Mueller Water Products’s dividend payout ratio (DPR) is 22.70%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Robert W. Baird set a $35.00 price objective on Mueller Water Products in a report on Friday, August 7th. Oppenheimer reduced their target price on Mueller Water Products from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. The Goldman Sachs Group decreased their target price on shares of Mueller Water Products from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Wall Street Zen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Barclays lowered their price target on shares of Mueller Water Products from $25.00 to $24.00 and set an “underweight” rating on the stock in a research note on Friday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.80.

About Mueller Water Products

Mueller Water Products manufactures products and solutions used to operate and maintain water infrastructure. Its offerings include water distribution valves, fire hydrants, ductile iron pipe and fittings, and products for measuring and managing water flow. The company also provides technologies and services for detecting leaks and monitoring water systems. Its products are used by water utilities and municipalities in the treatment and distribution of drinking water, as well as in fire protection and wastewater applications.