Aigen Investment Management LP Invests $451,000 in Mueller Water Products, Inc. (NYSE:MWA)

Aigen Investment Management LP purchased a new stake in Mueller Water Products, Inc. (NYSE:MWA) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 20,761 shares of the industrial products company’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Mueller Water Products in the third quarter valued at about $26,000. Allspring Global Investments Holdings LLC purchased a new position in Mueller Water Products in the 2nd quarter valued at about $72,000. National Bank of Canada FI boosted its holdings in Mueller Water Products by 44.2% in the 2nd quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after buying an additional 1,457 shares during the last quarter. Quarry LP increased its stake in Mueller Water Products by 341.0% during the 2nd quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after buying an additional 4,355 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 3,977 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MWA. TD Cowen cut Mueller Water Products from a “buy” rating to a “hold” rating and boosted their price target for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $27.00 price objective (up previously from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.20.

Mueller Water Products Price Performance

Mueller Water Products stock opened at $24.42 on Friday. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.80 billion, a P/E ratio of 33.45, a PEG ratio of 1.44 and a beta of 1.34. The company has a 50-day moving average price of $21.91 and a 200 day moving average price of $20.00. Mueller Water Products, Inc. has a 12-month low of $13.08 and a 12-month high of $26.28.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $348.20 million for the quarter, compared to analyst estimates of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. Sell-side analysts anticipate that Mueller Water Products, Inc. will post 1.16 earnings per share for the current year.

Mueller Water Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.067 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.06. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Water Products’s dividend payout ratio is currently 36.99%.

Insider Activity at Mueller Water Products

In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of Mueller Water Products stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the sale, the director now directly owns 102,792 shares in the company, valued at $2,112,375.60. This trade represents a 9.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by 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.