Connable Office Inc. raised its stake in shares of MUELLER WATER PRODUCTS (NYSE:MWA) by 23.4% during the second quarter, Holdings Channel reports. The firm owned 32,966 shares of the industrial products company’s stock after buying an additional 6,256 shares during the period. Connable Office Inc.’s holdings in MUELLER WATER PRODUCTS were worth $385,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its position in MUELLER WATER PRODUCTS by 0.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 80,965 shares of the industrial products company’s stock valued at $957,000 after buying an additional 413 shares during the period. Worth Venture Partners LLC boosted its position in MUELLER WATER PRODUCTS by 8.8% in the first quarter. Worth Venture Partners LLC now owns 14,061 shares of the industrial products company’s stock valued at $166,000 after buying an additional 1,140 shares during the period. Intrust Bank NA boosted its position in MUELLER WATER PRODUCTS by 6.5% in the first quarter. Intrust Bank NA now owns 21,823 shares of the industrial products company’s stock valued at $258,000 after buying an additional 1,338 shares during the period. Suffolk Capital Management LLC boosted its position in MUELLER WATER PRODUCTS by 1.7% in the first quarter. Suffolk Capital Management LLC now owns 120,317 shares of the industrial products company’s stock valued at $1,422,000 after buying an additional 1,985 shares during the period. Finally, Greenwood Capital Associates LLC boosted its position in MUELLER WATER PRODUCTS by 16.0% in the first quarter. Greenwood Capital Associates LLC now owns 18,937 shares of the industrial products company’s stock valued at $224,000 after buying an additional 2,619 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MUELLER WATER PRODUCTS (MWA) opened at 11.64 on Friday. The company’s 50 day moving average price is $11.59 and its 200 day moving average price is $11.89. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.46 and a beta of 1.37. MUELLER WATER PRODUCTS has a 52-week low of $10.45 and a 52-week high of $14.20.

MUELLER WATER PRODUCTS (NYSE:MWA) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. MUELLER WATER PRODUCTS had a return on equity of 17.17% and a net margin of 14.47%. The business had revenue of $232.20 million for the quarter, compared to the consensus estimate of $235.07 million. During the same period last year, the business posted $0.15 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that MUELLER WATER PRODUCTS will post $0.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.37%. MUELLER WATER PRODUCTS’s payout ratio is 20.00%.

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Several equities analysts have recently issued reports on the company. BidaskClub raised MUELLER WATER PRODUCTS from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Zacks Investment Research raised MUELLER WATER PRODUCTS from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Oppenheimer Holdings, Inc. set a $13.00 target price on MUELLER WATER PRODUCTS and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, CIBC reissued a “buy” rating on shares of MUELLER WATER PRODUCTS in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.00.

In other MUELLER WATER PRODUCTS news, Director Bernard G. Rethore sold 56,400 shares of MUELLER WATER PRODUCTS stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $11.23, for a total transaction of $633,372.00. Following the completion of the sale, the director now owns 27,303 shares of the company’s stock, valued at approximately $306,612.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shirley C. Franklin sold 9,156 shares of MUELLER WATER PRODUCTS stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total value of $104,378.40. Following the transaction, the director now owns 39,157 shares of the company’s stock, valued at approximately $446,389.80. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for MUELLER WATER PRODUCTS (NYSE:MWA)

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