Jennison Associates LLC Acquires 8,478 Shares of Mueller Water Products $MWA

Jennison Associates LLC boosted its holdings in Mueller Water Products (NYSE:MWA) by 21.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 47,365 shares of the industrial products company’s stock after purchasing an additional 8,478 shares during the period. Jennison Associates LLC’s holdings in Mueller Water Products were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MWA. Cullen Frost Bankers Inc. increased its position in Mueller Water Products by 112.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,294 shares of the industrial products company’s stock worth $31,000 after buying an additional 685 shares during the period. Olde Wealth Management LLC bought a new stake in shares of Mueller Water Products during the first quarter valued at approximately $42,000. Nisa Investment Advisors LLC increased its position in shares of Mueller Water Products by 184.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,702 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 1,104 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Mueller Water Products by 177.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,635 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,686 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Mueller Water Products during the second quarter valued at approximately $71,000. 91.68% of the stock is owned by institutional investors.

Mueller Water Products Stock Performance

Shares of NYSE:MWA opened at $25.62 on Friday. The business’s fifty day moving average price is $25.71 and its two-hundred day moving average price is $25.25. Mueller Water Products has a fifty-two week low of $21.35 and a fifty-two week high of $28.58. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.86 and a quick ratio of 2.56.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Thursday, February 24th. The industrial products company reported $0.11 earnings per share for the quarter. Mueller Water Products had a return on equity of 20.89% and a net margin of 10.67%.The firm had revenue of $237.40 million for the quarter. As a group, analysts predict that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.07. The ex-dividend date is Monday, November 10th. Mueller Water Products’s dividend payout ratio (DPR) is currently 28.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MWA shares. Wall Street Zen upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Water Products in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.33.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Thomas J. Hansen sold 24,005 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $26.15, for a total value of $627,730.75. Following the sale, the director directly owned 86,163 shares in the company, valued at $2,253,162.45. This represents a 21.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian C. Healy purchased 1,070 shares of the stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of $25.78 per share, for a total transaction of $27,584.60. Following the completion of the transaction, the director directly owned 16,800 shares of the company’s stock, valued at approximately $433,104. This trade represents a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 34,664 shares of company stock worth $909,819 over the last three months. Company insiders own 1.10% of the company’s stock.

Mueller Water Products Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.