First Trust Advisors LP Has $17.29 Million Holdings in Mueller Water Products, Inc. (MWA)
First Trust Advisors LP grew its stake in Mueller Water Products, Inc. (NYSE:MWA) by 23.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,475,081 shares of the industrial products company’s stock after buying an additional 275,430 shares during the quarter. First Trust Advisors LP’s holdings in Mueller Water Products were worth $17,288,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of MWA. Integrated Investment Consultants LLC purchased a new stake in shares of Mueller Water Products in the second quarter worth approximately $242,000. Wells Fargo & Company MN raised its holdings in shares of Mueller Water Products by 5.9% in the second quarter. Wells Fargo & Company MN now owns 2,336,375 shares of the industrial products company’s stock worth $27,382,000 after buying an additional 129,134 shares during the period. Comerica Bank raised its holdings in shares of Mueller Water Products by 2.4% in the second quarter. Comerica Bank now owns 240,806 shares of the industrial products company’s stock worth $2,834,000 after buying an additional 5,704 shares during the period. TD Asset Management Inc. raised its holdings in shares of Mueller Water Products by 20.0% in the second quarter. TD Asset Management Inc. now owns 115,700 shares of the industrial products company’s stock worth $1,356,000 after buying an additional 19,300 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mueller Water Products in the second quarter worth approximately $157,000. Institutional investors and hedge funds own 84.69% of the company’s stock.
Several research firms have commented on MWA. Zacks Investment Research upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a report on Saturday. Seaport Global Securities downgraded Mueller Water Products from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $12.50 in a report on Wednesday, August 8th. DA Davidson restated a “neutral” rating on shares of Mueller Water Products in a report on Friday, July 20th. Oppenheimer restated a “buy” rating and set a $14.00 price objective on shares of Mueller Water Products in a report on Monday, August 6th. Finally, ValuEngine upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $13.44.
Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $246.01 million. Mueller Water Products had a return on equity of 15.67% and a net margin of 11.24%. Mueller Water Products’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. equities research analysts forecast that Mueller Water Products, Inc. will post 0.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Friday, August 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $0.20 annualized dividend and a yield of 1.70%. Mueller Water Products’s payout ratio is currently 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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