Walleye Capital LLC Sells 4,170 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Walleye Capital LLC reduced its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,465 shares of the industrial products company’s stock after selling 4,170 shares during the quarter. Walleye Capital LLC owned about 0.10% of Mueller Water Products worth $3,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its position in shares of Mueller Water Products by 0.3% in the third quarter. Pinnacle Associates Ltd. now owns 162,750 shares of the industrial products company’s stock valued at $3,532,000 after purchasing an additional 500 shares in the last quarter. Diversified Trust Co increased its position in shares of Mueller Water Products by 3.1% during the third quarter. Diversified Trust Co now owns 19,936 shares of the industrial products company’s stock valued at $433,000 after buying an additional 607 shares during the period. Arizona State Retirement System increased its position in shares of Mueller Water Products by 1.9% during the second quarter. Arizona State Retirement System now owns 43,722 shares of the industrial products company’s stock valued at $783,000 after buying an additional 819 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Mueller Water Products in the third quarter worth about $26,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Mueller Water Products by 1.5% in the third quarter. The Manufacturers Life Insurance Company now owns 87,308 shares of the industrial products company’s stock valued at $1,895,000 after acquiring an additional 1,307 shares during the period. 91.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MWA shares. Royal Bank of Canada upped their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. TD Cowen downgraded Mueller Water Products from a “buy” rating to a “hold” rating and increased their price objective for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. Oppenheimer restated an “outperform” rating and set a $27.00 target price (up from $26.00) on shares of Mueller Water Products in a research report on Friday, November 8th. Finally, StockNews.com cut Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th. Five equities research 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, the company currently has a consensus rating of “Hold” and an average target price of $22.20.

Mueller Water Products Stock Up 2.2 %

MWA opened at $25.59 on Tuesday. The business’s fifty day simple moving average is $23.12 and its 200 day simple moving average is $20.67. Mueller Water Products, Inc. has a 52 week low of $13.40 and a 52 week high of $26.28. The company has a quick ratio of 2.16, a current ratio of 3.33 and a debt-to-equity ratio of 0.55. The stock has a market cap of $4.00 billion, a PE ratio of 35.05, a P/E/G ratio of 1.42 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data 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 return on equity of 19.38% and a net margin of 8.82%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 EPS. As a group, research analysts expect that Mueller Water Products, Inc. will post 1.17 earnings per share for the current fiscal year.

Mueller Water Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were issued a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 8th. Mueller Water Products’s payout ratio is presently 36.99%.

Insider Activity

In other Mueller Water Products news, Director Lydia W. Thomas sold 10,791 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.40, for a total value of $263,300.40. Following the completion of the sale, the director now owns 136,405 shares in the company, valued at approximately $3,328,282. The trade was a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Todd P. Helms sold 3,556 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.02, for a total value of $88,971.12. Following the sale, the senior vice president now directly owns 38,683 shares of the company’s stock, valued at approximately $967,848.66. This trade represents a 8.42 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.