VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $3.28 Million Investment in Mueller Water Products $MWA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Mueller Water Products (NYSE:MWA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 127,100 shares of the industrial products company’s stock, valued at approximately $3,283,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of Mueller Water Products at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Weiss Asset Management LP bought a new stake in shares of Mueller Water Products during the first quarter worth $1,571,000. Fiduciary Management Inc. WI bought a new position in shares of Mueller Water Products in the 4th quarter valued at $75,400,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Mueller Water Products during the 4th quarter valued at $2,222,000. Intech Investment Management LLC boosted its holdings in shares of Mueller Water Products by 58.9% during the 4th quarter. Intech Investment Management LLC now owns 123,367 shares of the industrial products company’s stock valued at $2,939,000 after acquiring an additional 45,742 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in Mueller Water Products during the 1st quarter worth $1,516,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MWA. Robert W. Baird set a $35.00 target price on Mueller Water Products in a report on Friday, August 7th. Weiss Ratings upgraded Mueller Water Products from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Barclays initiated coverage on Mueller Water Products in a research note on Tuesday, June 30th. They issued an “underweight” rating and a $25.00 price objective for the company. Wall Street Zen upgraded shares of Mueller Water Products from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada reduced their target price on shares of Mueller Water Products from $31.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.20.

Mueller Water Products Stock Up 1.1%

Shares of MWA opened at $24.02 on Thursday. The stock’s 50-day moving average price is $25.09 and its two-hundred day moving average price is $26.47. Mueller Water Products has a 12 month low of $22.74 and a 12 month high of $31.00. The company has a market capitalization of $3.75 billion, a PE ratio of 17.04, a PEG ratio of 1.00 and a beta of 1.01. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The company had revenue of $395.90 million during the quarter, compared to analysts’ expectations of $391.49 million. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, analysts anticipate that Mueller Water Products will post 1.58 EPS for the current year.

Mueller Water Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 10th. Mueller Water Products’s dividend payout ratio is currently 19.86%.

Insider Transactions 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 shares were sold at an average price of $24.23, for a total transaction of $291,923.04. Following the completion of the transaction, the director owned 30,824 shares of the company’s stock, valued at $746,865.52. This trade represents a 28.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul McAndrew sold 40,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $26.39, for a total transaction of $1,055,600.00. Following the completion of the transaction, the chief executive officer owned 42,556 shares in the company, valued at approximately $1,123,052.84. The trade was a 48.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,598 shares of company stock worth $1,360,685 over the last three months. 1.10% of the stock is owned by company insiders.

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.