Schroder Investment Management Group lowered its stake in Mueller Water Products Inc. (NYSE:MWA) by 17.4% during the second quarter, Holdings Channel reports. The institutional investor owned 447,280 shares of the company’s stock after selling 94,422 shares during the period. Schroder Investment Management Group owned about 0.28% of Mueller Water Products worth $5,108,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MWA. Airain ltd acquired a new position in shares of Mueller Water Products during the second quarter valued at about $276,000. PNC Financial Services Group Inc. increased its position in shares of Mueller Water Products by 102.4% in the second quarter. PNC Financial Services Group Inc. now owns 37,902 shares of the company’s stock valued at $433,000 after buying an additional 19,175 shares in the last quarter. Manning & Napier Advisors LLC increased its position in shares of Mueller Water Products by 77.4% in the second quarter. Manning & Napier Advisors LLC now owns 90,125 shares of the company’s stock valued at $1,028,000 after buying an additional 39,325 shares in the last quarter. Lebenthal Lisanti Capital Growth LLC acquired a new position in shares of Mueller Water Products during the second quarter valued at about $1,193,000. Finally, First Trust Advisors LP increased its position in shares of Mueller Water Products by 41.3% in the second quarter. First Trust Advisors LP now owns 455,137 shares of the company’s stock valued at $5,198,000 after buying an additional 133,086 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Shares of Mueller Water Products Inc. (NYSE:MWA) traded up 0.25% during midday trading on Tuesday, hitting $12.18. The stock had a trading volume of 298,377 shares. The stock has a 50-day moving average of $12.08 and a 200 day moving average of $10.97. Mueller Water Products Inc. has a 52 week low of $7.39 and a 52 week high of $12.54. The stock has a market cap of $1.97 billion, a PE ratio of 32.92 and a beta of 1.16.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. The firm earned $310 million during the quarter, compared to analyst estimates of $301 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that Mueller Water Products Inc. will post $0.49 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. DA Davidson boosted their price objective on Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Boenning Scattergood downgraded Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 13th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $13.00 price objective (up from $12.00) on shares of Mueller Water Products in a research report on Thursday, June 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.25.

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. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.

5 Day Chart for NYSE:MWA

Want to see what other hedge funds are holding MWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Water Products Inc. (NYSE:MWA).

Receive News & Ratings for Mueller Water Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.