Raymond James & Associates Decreases Position in Mueller Water Products, Inc. (MWA)

Raymond James & Associates reduced its stake in Mueller Water Products, Inc. (NYSE:MWA) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,115 shares of the industrial products company’s stock after selling 1,432 shares during the period. Raymond James & Associates’ holdings in Mueller Water Products were worth $201,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Mueller Water Products by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 1,138,929 shares of the industrial products company’s stock valued at $13,109,000 after acquiring an additional 86,722 shares during the period. BlackRock Inc. grew its stake in Mueller Water Products by 1.7% in the third quarter. BlackRock Inc. now owns 11,085,286 shares of the industrial products company’s stock valued at $127,592,000 after acquiring an additional 188,122 shares during the period. Dimensional Fund Advisors LP grew its stake in Mueller Water Products by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 6,265,213 shares of the industrial products company’s stock valued at $72,112,000 after acquiring an additional 51,368 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Water Products in the third quarter valued at about $354,000. Finally, Renaissance Technologies LLC grew its stake in Mueller Water Products by 13.8% in the third quarter. Renaissance Technologies LLC now owns 1,178,200 shares of the industrial products company’s stock valued at $13,561,000 after acquiring an additional 143,300 shares during the period. 89.97% of the stock is owned by institutional investors.

A number of research firms have issued reports on MWA. Zacks Investment Research raised Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Wednesday. Boenning Scattergood reissued a “neutral” rating on shares of Mueller Water Products in a research note on Tuesday, February 5th. TheStreet cut Mueller Water Products from a “b-” rating to a “c” rating in a research note on Tuesday, February 5th. Oppenheimer set a $13.00 target price on Mueller Water Products and gave the company a “buy” rating in a research note on Wednesday, December 26th. Finally, ValuEngine raised Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.58.

Shares of NYSE:MWA opened at $11.02 on Thursday. The company has a market cap of $1.71 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.39 and a beta of 1.08. Mueller Water Products, Inc. has a 1 year low of $8.47 and a 1 year high of $12.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.99 and a current ratio of 3.14.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Monday, February 4th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. The business had revenue of $192.80 million for the quarter, compared to the consensus estimate of $196.74 million. Mueller Water Products had a return on equity of 16.10% and a net margin of 3.17%. On average, analysts anticipate that Mueller Water Products, Inc. will post 0.62 EPS for the current fiscal year.

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Mueller Water Products 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.

Read More: Earnings Per Share (EPS)

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

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