Mueller Water Products (NYSE:MWA) Shares Bought by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd boosted its stake in shares of Mueller Water Products (NYSE:MWA) by 177.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,635 shares of the industrial products company’s stock after acquiring an additional 1,686 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Mueller Water Products were worth $67,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Mueller Water Products by 16.8% during the first quarter. Vanguard Group Inc. now owns 19,795,482 shares of the industrial products company’s stock worth $503,201,000 after acquiring an additional 2,840,895 shares during the period. Invesco Ltd. raised its position in Mueller Water Products by 21.6% during the first quarter. Invesco Ltd. now owns 4,880,108 shares of the industrial products company’s stock worth $124,052,000 after acquiring an additional 865,977 shares during the period. First Trust Advisors LP raised its position in Mueller Water Products by 16.7% during the fourth quarter. First Trust Advisors LP now owns 4,174,938 shares of the industrial products company’s stock worth $93,936,000 after acquiring an additional 596,956 shares during the period. Principal Financial Group Inc. raised its position in Mueller Water Products by 21.1% during the first quarter. Principal Financial Group Inc. now owns 3,651,340 shares of the industrial products company’s stock worth $92,817,000 after acquiring an additional 636,331 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in Mueller Water Products by 7.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,248,990 shares of the industrial products company’s stock worth $73,102,000 after acquiring an additional 220,025 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Water Products

In other news, Director Brian C. Healy acquired 1,110 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was purchased at an average cost of $24.74 per share, for a total transaction of $27,461.40. Following the completion of the transaction, the director owned 15,730 shares in the company, valued at approximately $389,160.20. This trade represents a 7.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th.

Mueller Water Products Stock Down 1.2%

Shares of NYSE MWA opened at $26.25 on Friday. Mueller Water Products has a 12-month low of $19.23 and a 12-month high of $28.58. The stock has a market cap of $4.10 billion, a PE ratio of 27.93, a P/E/G ratio of 1.41 and a beta of 1.18. The company has a current ratio of 3.86, a quick ratio of 2.56 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $24.71 and a 200 day moving average of $25.21.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, August 4th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The business had revenue of $380.30 million for the quarter, compared to analysts’ expectations of $366.82 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts predict that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Tuesday, August 12th will be given a dividend of $0.067 per share. This represents a $0.27 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, August 12th. Mueller Water Products’s dividend payout ratio (DPR) is presently 28.72%.

Mueller Water Products 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.