Mueller Water Products $MWA Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Mueller Water Products (NYSE:MWA) by 13.6% during the first quarter, HoldingsChannel.com reports. The fund owned 2,820,097 shares of the industrial products company’s stock after selling 442,587 shares during the period. Principal Financial Group Inc.’s holdings in Mueller Water Products were worth $77,524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MWA. Royal Bank of Canada boosted its stake in Mueller Water Products by 25.3% during the 1st quarter. Royal Bank of Canada now owns 153,043 shares of the industrial products company’s stock worth $3,890,000 after purchasing an additional 30,862 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Mueller Water Products by 87.2% in the first quarter. AQR Capital Management LLC now owns 122,472 shares of the industrial products company’s stock worth $3,113,000 after buying an additional 57,053 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Mueller Water Products in the first quarter worth about $205,000. United Services Automobile Association acquired a new position in Mueller Water Products during the first quarter worth about $212,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Mueller Water Products by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 572,686 shares of the industrial products company’s stock valued at $14,558,000 after acquiring an additional 56,404 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mueller Water Products news, Director Brian C. Healy acquired 1,183 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was bought at an average cost of $25.33 per share, for a total transaction of $29,965.39. Following the completion of the transaction, the director owned 24,946 shares of the company’s stock, valued at approximately $631,882.18. The trade was a 4.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MWA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Barclays began coverage on Mueller Water Products in a research report on Tuesday, June 30th. They issued an “underweight” rating and a $25.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Water Products in a report on Tuesday, May 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $29.00 price objective on shares of Mueller Water Products in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on Mueller Water Products from $30.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Mueller Water Products presently has an average rating of “Hold” and an average price target of $30.00.

Mueller Water Products Price Performance

Shares of MWA stock opened at $25.89 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.57 and a quick ratio of 2.92. The company has a market capitalization of $4.05 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.03. The firm’s 50-day moving average is $25.52 and its two-hundred day moving average is $26.96. Mueller Water Products has a 12 month low of $22.74 and a 12 month high of $31.00.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter. The business had revenue of $1.19 billion during the quarter. Mueller Water Products had a net margin of 14.17% and a return on equity of 22.11%. Analysts predict that Mueller Water Products will post 1.47 earnings per share for the current year.

Mueller Water Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, May 11th were issued a $0.07 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Mueller Water Products’s dividend payout ratio is currently 21.37%.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company’s portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company’s operations are organized around two primary business segments.