Assenagon Asset Management S.A. bought a new stake in Mueller Water Products, Inc. (NYSE:MWA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 113,200 shares of the industrial products company’s stock, valued at approximately $1,303,000. Assenagon Asset Management S.A. owned approximately 0.07% of Mueller Water Products as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fortaleza Asset Management Inc. acquired a new position in shares of Mueller Water Products during the 2nd quarter valued at $128,000. Oppenheimer & Co. Inc. acquired a new position in shares of Mueller Water Products during the 3rd quarter valued at $147,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Mueller Water Products during the 2nd quarter valued at $157,000. Signaturefd LLC acquired a new position in shares of Mueller Water Products during the 2nd quarter valued at $171,000. Finally, UMB Bank N A MO acquired a new position in shares of Mueller Water Products during the 3rd quarter valued at $172,000. Hedge funds and other institutional investors own 86.01% of the company’s stock.
Shares of NYSE:MWA traded up $0.17 on Monday, reaching $10.70. The company had a trading volume of 706,325 shares, compared to its average volume of 929,699. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.10 and a quick ratio of 3.17. The stock has a market capitalization of $1.66 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.28 and a beta of 1.11. Mueller Water Products, Inc. has a twelve month low of $9.59 and a twelve month high of $12.96.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Friday, November 9th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.87%. Mueller Water Products’s payout ratio is presently 37.74%.
A number of equities analysts recently issued reports on MWA shares. Zacks Investment Research cut Mueller Water Products from a “hold” rating to a “sell” rating in a report on Saturday, August 25th. Oppenheimer set a $14.00 target price on Mueller Water Products and gave the stock a “buy” rating in a research report on Wednesday, September 12th. Berenberg Bank began coverage on Mueller Water Products in a research report on Wednesday, October 3rd. They issued a “buy” rating and a $15.00 target price for the company. Nomura decreased their target price on Mueller Water Products from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 12th. Finally, Seaport Global Securities cut Mueller Water Products from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $12.50 in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.25.
In related news, 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 transaction, the senior vice president now directly owns 14,057 shares in the company, valued at $148,160.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marietta Edmunds Zakas sold 38,022 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $10.53, for a total value of $400,371.66. Following the transaction, the chief financial officer now owns 257,614 shares in the company, valued at $2,712,675.42. The disclosure for this sale can be found here. Insiders sold 99,870 shares of company stock worth $1,057,878 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.
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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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