LPL Financial LLC acquired a new position in shares of Mueller Water Products, Inc. (NYSE:MWA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,271 shares of the industrial products company’s stock, valued at approximately $467,000.
Other institutional investors and hedge funds have also modified their holdings of the company. AMP Capital Investors Ltd purchased a new position in shares of Mueller Water Products during the 4th quarter worth approximately $128,000. Virtu Financial LLC purchased a new position in shares of Mueller Water Products during the 4th quarter worth approximately $129,000. Global X Management Co. LLC increased its stake in shares of Mueller Water Products by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 11,284 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 4,845 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Mueller Water Products during the 3rd quarter worth approximately $231,000. Finally, Clarus Wealth Advisors purchased a new position in shares of Mueller Water Products during the 4th quarter worth approximately $228,000. 87.21% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $15.00 price objective on shares of Mueller Water Products in a research note on Thursday, December 28th. They noted that the move was a valuation call. Cowen cut shares of Mueller Water Products from a “market perform” rating to an “underperform” rating and set a $11.00 price objective for the company. in a research note on Friday, January 19th. Boenning Scattergood cut shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research note on Friday, February 2nd. Finally, Nomura lowered their target price on shares of Mueller Water Products from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.57.
Mueller Water Products (NYSE:MWA) last released its earnings results on Thursday, February 1st. The industrial products company reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $176.13 million. Mueller Water Products had a net margin of 20.51% and a return on equity of 15.25%. Mueller Water Products’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. sell-side analysts expect that Mueller Water Products, Inc. will post 0.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 21st. Shareholders of record on Thursday, May 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.91%. Mueller Water Products’s payout ratio is currently 45.45%.
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About Mueller Water Products
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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