Earnest Partners LLC reduced its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 0.1% during the 4th quarter, Holdings Channel reports. The firm owned 8,253,593 shares of the industrial products company’s stock after selling 8,715 shares during the quarter. Mueller Water Products comprises about 1.0% of Earnest Partners LLC’s investment portfolio, making the stock its 27th biggest position. Earnest Partners LLC owned approximately 0.05% of Mueller Water Products worth $103,418,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of MWA. AMP Capital Investors Ltd acquired a new stake in shares of Mueller Water Products in the fourth quarter valued at about $128,000. Virtu Financial LLC acquired a new stake in shares of Mueller Water Products in the fourth quarter valued at about $129,000. Belpointe Asset Management LLC acquired a new stake in shares of Mueller Water Products in the third quarter valued at about $131,000. Global X Management Co. LLC grew its position in shares of Mueller Water Products by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 11,284 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 4,845 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Mueller Water Products in the third quarter valued at about $158,000. 86.94% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on MWA shares. Nomura lowered their price target on Mueller Water Products from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Boenning Scattergood downgraded Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and set a $15.00 target price on shares of Mueller Water Products in a research report on Thursday, December 28th. They noted that the move was a valuation call. Finally, Cowen downgraded Mueller Water Products from a “market perform” rating to an “underperform” rating and set a $11.00 target price on the stock. in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.71.
Mueller Water Products (NYSE:MWA) last released its earnings results on Thursday, February 1st. The industrial products company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Mueller Water Products had a return on equity of 15.25% and a net margin of 20.51%. The business had revenue of $178.30 million for the quarter, compared to the consensus estimate of $176.13 million. During the same period last year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. analysts anticipate that Mueller Water Products, Inc. will post 0.54 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%. Mueller Water Products’s dividend payout ratio (DPR) is 18.87%.
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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