Lazard Asset Management LLC bought a new stake in Mueller Water Products (NYSE:MWA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 753,735 shares of the industrial products company’s stock, valued at approximately $8,803,000. Lazard Asset Management LLC owned approximately 0.47% of Mueller Water Products at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of Mueller Water Products by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 13,074 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 191 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of 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 purchasing an additional 413 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Mueller Water Products by 1.9% in the second quarter. Oppenheimer & Co. Inc. now owns 23,277 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 424 shares in the last quarter. Amalgamated Bank raised its stake in shares of Mueller Water Products by 2.6% in the second quarter. Amalgamated Bank now owns 19,603 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 500 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its stake in shares of Mueller Water Products by 1.3% in the second quarter. Guyasuta Investment Advisors Inc. now owns 74,256 shares of the industrial products company’s stock valued at $867,000 after purchasing an additional 940 shares in the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.

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Shares of Mueller Water Products (MWA) opened at 12.64 on Friday. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20. The firm has a 50-day moving average price of $11.93 and a 200-day moving average price of $11.67. The company has a market capitalization of $2.00 billion, a PE ratio of 15.70 and a beta of 1.36.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The firm had revenue of $232.20 million during the quarter, compared to analysts’ expectations of $235.07 million. Mueller Water Products had a return on equity of 16.85% and a net margin of 14.47%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. On average, equities research analysts predict that Mueller Water Products will post $0.44 EPS for the current year.

A number of research analysts recently commented on the company. Cowen and Company restated a “hold” rating and issued a $12.00 target price on shares of Mueller Water Products in a research note on Thursday. Robert W. Baird restated a “hold” rating and issued a $13.00 target price on shares of Mueller Water Products in a research note on Friday, September 8th. BidaskClub upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Boenning Scattergood upgraded Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 target price for the company in a research note on Tuesday, September 5th. Finally, Zacks Investment Research upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.67.

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 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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