Belpointe Asset Management LLC purchased a new position in Mueller Water Products, Inc. (NYSE:MWA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,200 shares of the industrial products company’s stock, valued at approximately $131,000.
A number of other large investors also recently bought and sold shares of MWA. Colony Group LLC acquired a new stake in Mueller Water Products in the second quarter worth $135,000. Teacher Retirement System of Texas grew its holdings in shares of Mueller Water Products by 1.5% during 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 during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Mueller Water Products during the third quarter valued at about $158,000. Ameritas Investment Partners Inc. grew its holdings in shares of Mueller Water Products by 2.0% during 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 during the last quarter. Finally, Koch Industries Inc. acquired a new position in shares of Mueller Water Products during the second quarter valued at about $190,000. Institutional investors and hedge funds own 84.28% of the company’s stock.
In other news, Chairman Gregory E. Hyland sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $12.27, for a total value of $613,500.00. Following the sale, the chairman now owns 979,481 shares of the company’s stock, valued at $12,018,231.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Evan Hart sold 49,883 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $12.28, for a total transaction of $612,563.24. Following the completion of the sale, the chief financial officer now directly owns 145,530 shares in the company, valued at approximately $1,787,108.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,656 shares of company stock worth $8,514,160. Insiders own 3.00% of the company’s stock.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $226.90 million for the quarter, compared to analyst estimates of $227.14 million. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.43%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. equities analysts forecast that Mueller Water Products, Inc. will post 0.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 9th. Mueller Water Products’s dividend payout ratio is 21.05%.
A number of research analysts have recently issued reports on the stock. Cowen reiterated a “hold” rating and set a $12.00 price objective on shares of Mueller Water Products in a report on Thursday, September 21st. Robert W. Baird reiterated a “hold” rating and set a $13.00 price objective on shares of Mueller Water Products in a report on Friday, September 8th. Boenning Scattergood reissued a “buy” rating and set a $14.00 price target on shares of Mueller Water Products in a research report on Thursday, November 2nd. BidaskClub lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $14.00 price target on shares of Mueller Water Products in a research report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.75.
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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