Chescapmanager LLC Buys Shares of 45,000 Mueller Water Products (MWA)

Chescapmanager LLC purchased a new stake in shares of Mueller Water Products (NYSE:MWA) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 45,000 shares of the industrial products company’s stock, valued at approximately $532,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Mueller Water Products by 14,036.8% in the first quarter. BlackRock Inc. now owns 13,522,561 shares of the industrial products company’s stock valued at $159,837,000 after buying an additional 13,426,906 shares during the last quarter. Norges Bank purchased a new stake in Mueller Water Products during the fourth quarter valued at approximately $51,312,000. Gamco Investors INC. ET AL raised its stake in Mueller Water Products by 273.5% in the first quarter. Gamco Investors INC. ET AL now owns 5,103,980 shares of the industrial products company’s stock valued at $60,329,000 after buying an additional 3,737,574 shares during the last quarter. Franklin Resources Inc. raised its stake in Mueller Water Products by 41.0% in the fourth quarter. Franklin Resources Inc. now owns 6,044,820 shares of the industrial products company’s stock valued at $80,457,000 after buying an additional 1,759,100 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Mueller Water Products by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,650,343 shares of the industrial products company’s stock valued at $149,528,000 after buying an additional 1,017,949 shares during the last quarter. 87.34% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Mueller Water Products (MWA) traded down 2.33% during trading on Tuesday, hitting $11.30. 771,779 shares of the company were exchanged. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20. The stock has a market cap of $1.80 billion, a P/E ratio of 15.25 and a beta of 1.34. The company’s 50-day moving average price is $11.24 and its 200 day moving average price is $12.35.

Mueller Water Products (NYSE:MWA) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Mueller Water Products had a net margin of 12.45% and a return on equity of 18.45%. The company had revenue of $199.70 million for the quarter, compared to the consensus estimate of $206 million. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Mueller Water Products will post $0.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Wednesday, May 10th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.16 dividend on an annualized basis and a yield of 1.42%. Mueller Water Products’s payout ratio is presently 21.62%.

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MWA has been the topic of several analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Mueller Water Products in a research report on Tuesday, May 9th. Nomura initiated coverage on Mueller Water Products in a research report on Wednesday, April 12th. They issued a “buy” rating and a $15.00 target price on the stock. Zacks Investment Research raised Mueller Water Products from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, April 11th. CIBC reissued a “buy” rating on shares of Mueller Water Products in a research report on Wednesday, May 10th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Mueller Water Products in a research report on Wednesday, March 8th. They issued a “buy” rating and a $15.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.71.

In related news, Director Bernard G. Rethore sold 56,400 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $11.23, for a total value of $633,372.00. Following the sale, the director now directly owns 27,303 shares in the company, valued at approximately $306,612.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shirley C. Franklin sold 9,156 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total transaction of $104,378.40. Following the completion of the sale, the director now owns 39,157 shares in the company, valued at $446,389.80. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

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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