Speece Thorson Capital Group Inc. raised its stake in Mueller Water Products, Inc. (NYSE:MWA) by 22.6% during the 3rd quarter, Holdings Channel reports. The firm owned 879,281 shares of the industrial products company’s stock after acquiring an additional 162,277 shares during the period. Mueller Water Products accounts for 2.3% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 23rd biggest position. Speece Thorson Capital Group Inc.’s holdings in Mueller Water Products were worth $10,121,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in MWA. Fortaleza Asset Management Inc. purchased a new stake in shares of Mueller Water Products in the second quarter valued at approximately $128,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Mueller Water Products in the third quarter valued at approximately $147,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mueller Water Products in the second quarter valued at approximately $157,000. Signaturefd LLC purchased a new stake in shares of Mueller Water Products in the second quarter valued at approximately $171,000. Finally, UMB Bank N A MO purchased a new stake in shares of Mueller Water Products in the third quarter valued at approximately $172,000. Institutional investors own 86.29% of the company’s stock.
A number of analysts recently weighed in on MWA shares. Zacks Investment Research upgraded Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, July 11th. DA Davidson restated a “neutral” rating on shares of Mueller Water Products in a research note on Friday, July 20th. Oppenheimer restated a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a research note on Monday, August 6th. Seaport Global Securities downgraded Mueller Water Products from a “buy” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $12.50 in a research note on Wednesday, August 8th. Finally, Nomura decreased their price target on Mueller Water Products from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Mueller Water Products has a consensus rating of “Hold” and a consensus price target of $13.44.
Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. Mueller Water Products had a return on equity of 15.67% and a net margin of 11.24%. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $246.01 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Mueller Water Products, Inc. will post 0.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Friday, November 9th will be issued a $0.05 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.95%. Mueller Water Products’s dividend payout ratio (DPR) is 45.45%.
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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