Bank of America Corp DE trimmed its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 748,916 shares of the industrial products company’s stock after selling 19,112 shares during the period. Bank of America Corp DE owned about 0.47% of Mueller Water Products worth $6,814,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Blueshift Asset Management LLC acquired a new position in Mueller Water Products in the fourth quarter valued at about $124,000. Deutsche Bank AG grew its stake in Mueller Water Products by 1.4% in the third quarter. Deutsche Bank AG now owns 1,352,027 shares of the industrial products company’s stock valued at $15,558,000 after acquiring an additional 18,032 shares during the period. Two Sigma Advisers LP grew its stake in Mueller Water Products by 71.2% in the fourth quarter. Two Sigma Advisers LP now owns 440,917 shares of the industrial products company’s stock valued at $4,012,000 after acquiring an additional 183,300 shares during the period. TIAA CREF Investment Management LLC grew its stake in Mueller Water Products by 37.1% in the third quarter. TIAA CREF Investment Management LLC now owns 743,187 shares of the industrial products company’s stock valued at $8,554,000 after acquiring an additional 200,951 shares during the period. Finally, Man Group plc grew its stake in Mueller Water Products by 727.7% in the third quarter. Man Group plc now owns 588,492 shares of the industrial products company’s stock valued at $6,773,000 after acquiring an additional 517,393 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.
MWA traded up $0.08 on Friday, hitting $9.23. 3,149,037 shares of the company were exchanged, compared to its average volume of 1,012,410. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.99 and a current ratio of 3.07. The firm has a market capitalization of $1.45 billion, a PE ratio of 17.42, a PEG ratio of 1.20 and a beta of 1.10. Mueller Water Products, Inc. has a 12 month low of $8.47 and a 12 month high of $12.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 2.17%. Mueller Water Products’s dividend payout ratio is 37.74%.
A number of research firms have issued reports on MWA. Seaport Global Securities raised Mueller Water Products from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday. ValuEngine cut Mueller Water Products from a “hold” rating to a “sell” rating in a research report on Wednesday. Boenning Scattergood reaffirmed a “hold” rating on shares of Mueller Water Products in a research report on Tuesday. Zacks Investment Research raised Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, Oppenheimer set a $13.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.33.
In other Mueller Water Products news, Director Bernard G. Rethore acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average price of $9.19 per share, for a total transaction of $91,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.
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Mueller Water Products Company Profile
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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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