Zurcher Kantonalbank Zurich Cantonalbank Sells 27,902 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Mueller Water Products, Inc. (NYSE:MWA) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 472,682 shares of the industrial products company’s stock after selling 27,902 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.30% of Mueller Water Products worth $8,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pingora Partners LLC acquired a new position in shares of Mueller Water Products in the fourth quarter valued at approximately $29,000. Daiwa Securities Group Inc. acquired a new stake in shares of Mueller Water Products during the 1st quarter worth about $46,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Mueller Water Products during the 2nd quarter worth about $72,000. Register Financial Advisors LLC purchased a new stake in shares of Mueller Water Products during the first quarter valued at approximately $80,000. Finally, TFO Wealth Partners LLC boosted its holdings in Mueller Water Products by 345,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 6,916 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 6,914 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Mueller Water Products Stock Performance

Shares of NYSE MWA traded down $0.01 during trading on Friday, reaching $21.10. 127,160 shares of the stock traded hands, compared to its average volume of 1,238,810. The stock has a market capitalization of $3.29 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.53 and a quick ratio of 2.08. The company has a 50-day moving average of $19.59 and a 200-day moving average of $17.66. Mueller Water Products, Inc. has a 52-week low of $12.13 and a 52-week high of $21.48.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. Mueller Water Products had a return on equity of 16.97% and a net margin of 8.10%. The company had revenue of $356.70 million during the quarter, compared to analysts’ expectations of $329.67 million. During the same period in the prior year, the business posted $0.18 EPS. Mueller Water Products’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Mueller Water Products, Inc. will post 0.86 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 9th were given a dividend of $0.064 per share. The ex-dividend date was Friday, August 9th. This represents a $0.26 annualized dividend and a yield of 1.21%. Mueller Water Products’s dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the transaction, the director now owns 102,792 shares in the company, valued at $2,112,375.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thomas J. Hansen sold 10,791 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.55, for a total transaction of $221,755.05. Following the transaction, the director now directly owns 102,792 shares of the company’s stock, valued at $2,112,375.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider J Scott Hall sold 135,253 shares of Mueller Water Products stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.34, for a total value of $2,751,046.02. Following the transaction, the insider now owns 544,029 shares of the company’s stock, valued at approximately $11,065,549.86. The disclosure for this sale can be found here. Insiders have sold a total of 256,869 shares of company stock valued at $5,141,842 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird lifted their price target on Mueller Water Products from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. TD Cowen lowered Mueller Water Products from a “buy” rating to a “hold” rating and upped their target price for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Royal Bank of Canada increased their target price on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Baird R W raised Mueller Water Products to a “hold” rating in a research note on Wednesday, May 8th. Finally, Oppenheimer increased their target price on Mueller Water Products from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mueller Water Products presently has a consensus rating of “Hold” and an average price target of $21.60.

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.