Wells Fargo & Company MN lessened its holdings in shares of Mueller Water Products (NYSE:MWA) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,388,161 shares of the industrial products company’s stock after selling 162,382 shares during the period. Wells Fargo & Company MN owned about 1.51% of Mueller Water Products worth $30,568,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Colony Group LLC acquired a new stake in shares of Mueller Water Products during the 2nd quarter worth approximately $135,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Mueller Water Products in the second quarter valued at approximately $140,000. Teacher Retirement System of Texas boosted its position in 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 buying an additional 191 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Mueller Water Products by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,730 shares of the industrial products company’s stock valued at $160,000 after buying an additional 266 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in Mueller Water Products in the second quarter valued at approximately $190,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Shares of Mueller Water Products (NYSE:MWA) traded down $0.11 during midday trading on Friday, reaching $12.44. 2,309,900 shares of the company were exchanged, compared to its average volume of 1,248,490. Mueller Water Products has a fifty-two week low of $10.84 and a fifty-two week high of $14.02. The company has a market capitalization of $1,983.67, a P/E ratio of 29.19, a PEG ratio of 1.58 and a beta of 1.33. The company has a debt-to-equity ratio of 0.97, a current ratio of 4.73 and a quick ratio of 3.75.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.43%. The business had revenue of $226.90 million during the quarter, compared to the consensus estimate of $227.14 million. During the same quarter last year, the firm earned $0.17 earnings per share. Mueller Water Products’s quarterly revenue was up 5.2% on a year-over-year basis. analysts anticipate that Mueller Water Products will post 0.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, November 9th. Mueller Water Products’s payout ratio is 21.05%.

A number of brokerages have weighed in on MWA. Cowen restated a “hold” rating and issued a $12.00 target price on shares of Mueller Water Products in a research report on Thursday, September 21st. Robert W. Baird restated a “hold” rating and issued a $13.00 target price on shares of Mueller Water Products in a research report on Friday, September 8th. Boenning Scattergood restated a “buy” rating and issued a $14.00 target price on shares of Mueller Water Products in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $14.00 price target on shares of Mueller Water Products in a research note on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $13.75.

In other Mueller Water Products news, CFO Evan Hart sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $12.47, for a total value of $1,247,000.00. Following the completion of the sale, the chief financial officer now directly owns 275,058 shares in the company, valued at $3,429,973.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory E. Hyland sold 84,514 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $12.27, for a total transaction of $1,036,986.78. Following the completion of the sale, the insider now owns 979,481 shares of the company’s stock, valued at $12,018,231.87. The disclosure for this sale can be found here. Insiders sold 693,656 shares of company stock valued at $8,514,160 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

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Mueller Water Products 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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