Nationwide Fund Advisors Has $3,001,000 Position in Mueller Water Products Inc. (MWA)
Nationwide Fund Advisors increased its position in shares of Mueller Water Products Inc. (NYSE:MWA) by 81.2% during the second quarter, Holdings Channel reports. The fund owned 262,807 shares of the company’s stock after buying an additional 117,780 shares during the period. Nationwide Fund Advisors owned about 0.16% of Mueller Water Products worth $3,001,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc bought a new stake in Mueller Water Products during the second quarter worth approximately $141,000. Wedbush Securities Inc. raised its stake in Mueller Water Products by 17.9% in the second quarter. Wedbush Securities Inc. now owns 12,654 shares of the company’s stock worth $145,000 after buying an additional 1,921 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Mueller Water Products during the first quarter worth approximately $143,000. Murphy Capital Management Inc. bought a new stake in Mueller Water Products during the second quarter worth approximately $175,000. Finally, Fox Run Management L.L.C. raised its stake in Mueller Water Products by 18.1% in the second quarter. Fox Run Management L.L.C. now owns 18,900 shares of the company’s stock worth $216,000 after buying an additional 2,900 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.
Mueller Water Products Inc. (NYSE:MWA) traded down 3.00% on Friday, hitting $11.95. The stock had a trading volume of 844,467 shares. The firm has a 50-day moving average of $12.22 and a 200 day moving average of $11.28. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 32.30 and a beta of 1.33. Mueller Water Products Inc. has a 52 week low of $7.52 and a 52 week high of $13.50.
Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Mueller Water Products had a return on equity of 20.05% and a net margin of 5.20%. The company had revenue of $310 million for the quarter, compared to analyst estimates of $301 million. During the same period in the previous year, the company posted $0.15 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Mueller Water Products Inc. will post $0.49 earnings per share for the current year.
A number of research analysts have issued reports on MWA shares. DA Davidson upped their price objective on Mueller Water Products from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Zacks Investment Research downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Boenning Scattergood downgraded Mueller Water Products from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 13th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $12.25.
Mueller Water Products Company Profile
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.
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