Bank of New York Mellon Corp raised its stake in Mueller Water Products, Inc. (NYSE:MWA) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,052,207 shares of the industrial products company’s stock after purchasing an additional 7,544 shares during the period. Bank of New York Mellon Corp owned 0.67% of Mueller Water Products worth $12,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new stake in Mueller Water Products in the 2nd quarter valued at $157,000. TD Asset Management Inc. lifted its position in Mueller Water Products by 20.0% in the 2nd quarter. TD Asset Management Inc. now owns 115,700 shares of the industrial products company’s stock valued at $1,356,000 after acquiring an additional 19,300 shares in the last quarter. Comerica Bank lifted its position in Mueller Water Products by 2.4% in the 2nd quarter. Comerica Bank now owns 240,806 shares of the industrial products company’s stock valued at $2,834,000 after acquiring an additional 5,704 shares in the last quarter. Wells Fargo & Company MN lifted its position in Mueller Water Products by 5.9% in the 2nd quarter. Wells Fargo & Company MN now owns 2,336,375 shares of the industrial products company’s stock valued at $27,382,000 after acquiring an additional 129,134 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Mueller Water Products by 23.0% in the 2nd quarter. First Trust Advisors LP now owns 1,475,081 shares of the industrial products company’s stock valued at $17,288,000 after acquiring an additional 275,430 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.

MWA opened at $10.02 on Friday. The firm has a market capitalization of $1.60 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.23 and a beta of 1.11. Mueller Water Products, Inc. has a 12 month low of $9.59 and a 12 month high of $12.96. The company has a current ratio of 4.10, a quick ratio of 3.17 and a debt-to-equity ratio of 0.79.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Mueller Water Products had a net margin of 11.53% and a return on equity of 15.62%. The firm had revenue of $254.30 million for the quarter, compared to analysts’ expectations of $239.79 million. During the same period in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that Mueller Water Products, Inc. will post 0.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Friday, November 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.20 annualized dividend and a yield of 2.00%. Mueller Water Products’s dividend payout ratio (DPR) is presently 37.74%.

In other Mueller Water Products news, Director Lydia W. Thomas sold 9,546 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $10.50, for a total transaction of $100,233.00. Following the sale, the director now directly owns 83,193 shares of the company’s stock, valued at approximately $873,526.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Hassan Ali sold 46,737 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $10.54, for a total transaction of $492,607.98. Following the sale, the senior vice president now directly owns 14,057 shares in the company, valued at $148,160.78. The disclosure for this sale can be found here. Insiders have sold a total of 99,870 shares of company stock worth $1,057,878 over the last three months. Insiders own 3.00% of the company’s stock.

Several equities research analysts recently commented on MWA shares. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Nomura cut their price objective on shares of Mueller Water Products from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 12th. Oppenheimer set a $14.00 price objective on shares of Mueller Water Products and gave the company a “buy” rating in a research report on Wednesday, September 12th. Finally, Berenberg Bank started coverage on shares of Mueller Water Products in a research report on Wednesday, October 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Mueller Water Products presently has an average rating of “Hold” and a consensus price target of $13.25.

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About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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