Allianz Asset Management GmbH Lowers Stock Position in Mueller Water Products $MWA

Allianz Asset Management GmbH lessened its holdings in Mueller Water Products (NYSE:MWA) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,110,011 shares of the industrial products company’s stock after selling 102,839 shares during the period. Allianz Asset Management GmbH’s holdings in Mueller Water Products were worth $74,765,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mueller Water Products in the 1st quarter worth approximately $502,000. Envestnet Asset Management Inc. lifted its position in shares of Mueller Water Products by 354.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 318,939 shares of the industrial products company’s stock worth $8,107,000 after purchasing an additional 248,733 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Mueller Water Products in the 1st quarter worth approximately $287,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Mueller Water Products in the 1st quarter worth approximately $217,000. Finally, Amalgamated Bank lifted its position in shares of Mueller Water Products by 741.2% in the 1st quarter. Amalgamated Bank now owns 44,567 shares of the industrial products company’s stock worth $1,133,000 after purchasing an additional 39,269 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Mueller Water Products Trading Down 2.2%

NYSE:MWA opened at $24.96 on Friday. Mueller Water Products has a 12 month low of $21.35 and a 12 month high of $28.58. The firm has a fifty day simple moving average of $25.86 and a 200-day simple moving average of $25.13. 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 market capitalization of $3.90 billion, a P/E ratio of 26.55, a PEG ratio of 1.19 and a beta of 1.18.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Thursday, February 24th. The industrial products company reported $0.11 EPS for the quarter. Mueller Water Products had a net margin of 10.67% and a return on equity of 20.89%. The business had revenue of $237.40 million during the quarter. On average, equities research analysts anticipate that Mueller Water Products will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.067 per share. This represents a $0.27 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 12th. Mueller Water Products’s payout ratio is presently 28.72%.

Insider Transactions at Mueller Water Products

In related news, Director Thomas J. Hansen sold 24,005 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $26.15, for a total transaction of $627,730.75. Following the completion of the transaction, the director owned 86,163 shares of the company’s stock, valued at $2,253,162.45. This trade represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian C. Healy bought 1,070 shares of Mueller Water Products stock in a transaction that occurred on Tuesday, October 7th. The shares were acquired at an average cost of $25.78 per share, with a total value of $27,584.60. Following the acquisition, the director owned 16,800 shares of the company’s stock, valued at $433,104. The trade was a 6.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 34,664 shares of company stock worth $909,819 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Water Products in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Mueller Water Products from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.33.

About Mueller Water Products

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.