Boothbay Fund Management LLC Acquires New Position in Mueller Water Products (MWA)
Boothbay Fund Management LLC acquired a new stake in Mueller Water Products (NYSE:MWA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,359 shares of the industrial products company’s stock, valued at approximately $158,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Colony Group LLC acquired a new position in Mueller Water Products in the 2nd quarter valued at $135,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Mueller Water Products in the 2nd quarter worth $140,000. Teacher Retirement System of Texas increased its stake in shares of Mueller Water Products by 1.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,074 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 191 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Mueller Water Products by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,730 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 266 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Mueller Water Products in the 2nd quarter worth $190,000. 84.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Mueller Water Products (NYSE MWA) traded down $0.11 during trading on Friday, reaching $12.44. The company had a trading volume of 2,309,900 shares, compared to its average volume of 1,248,490. Mueller Water Products has a 12 month low of $10.84 and a 12 month high of $14.02. The stock has a market cap of $1,983.67, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.58 and a beta of 1.33. The company has a quick ratio of 3.75, a current ratio of 4.73 and a debt-to-equity ratio of 0.97.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Friday, November 10th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, November 9th. Mueller Water Products’s payout ratio is presently 21.05%.
In other news, insider Gregory E. Hyland sold 142,243 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $12.37, for a total transaction of $1,759,545.91. Following the sale, the insider now owns 979,481 shares of the company’s stock, valued at approximately $12,116,179.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Evan Hart sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $12.10, for a total value of $605,000.00. Following the sale, the chief financial officer now directly owns 321,247 shares in the company, valued at approximately $3,887,088.70. The disclosure for this sale can be found here. Insiders sold a total of 693,656 shares of company stock valued at $8,514,160 in the last quarter. Company insiders own 4.30% of the company’s stock.
A number of analysts have issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 target price on shares of Mueller Water Products in a research note on Friday, September 8th. Cowen reaffirmed a “hold” rating and issued a $12.00 target price on shares of Mueller Water Products in a research note on Thursday, September 21st. Boenning Scattergood reaffirmed a “buy” rating and issued a $14.00 target price on shares of Mueller Water Products in a research note on Thursday, November 2nd. BidaskClub cut Mueller Water Products from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $14.00 price target on shares of Mueller Water Products in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently 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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