MUELLER WATER PRODUCTS (NYSE:MWA) Shares Sold by Credit Suisse AG
Credit Suisse AG reduced its stake in MUELLER WATER PRODUCTS (NYSE:MWA) by 8.4% during the first quarter, Holdings Channel reports. The firm owned 158,241 shares of the industrial products company’s stock after selling 14,510 shares during the period. Credit Suisse AG’s holdings in MUELLER WATER PRODUCTS were worth $1,869,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of MWA. Marshall Wace North America L.P. purchased a new stake in shares of MUELLER WATER PRODUCTS during the first quarter worth approximately $2,143,000. BlackRock Inc. raised its stake in shares of MUELLER WATER PRODUCTS by 14,036.8% in the first quarter. BlackRock Inc. now owns 13,522,561 shares of the industrial products company’s stock worth $159,837,000 after buying an additional 13,426,906 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of MUELLER WATER PRODUCTS by 3.9% in the first quarter. TD Asset Management Inc. now owns 80,200 shares of the industrial products company’s stock worth $948,000 after buying an additional 3,000 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of MUELLER WATER PRODUCTS during the first quarter worth approximately $1,297,000. Finally, Stifel Financial Corp raised its stake in shares of MUELLER WATER PRODUCTS by 7.0% in the first quarter. Stifel Financial Corp now owns 45,552 shares of the industrial products company’s stock worth $536,000 after buying an additional 2,978 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.
Shares of MUELLER WATER PRODUCTS (NYSE:MWA) traded down 1.66% during mid-day trading on Thursday, reaching $11.86. The company had a trading volume of 313,414 shares. The company has a market capitalization of $1.88 billion, a P/E ratio of 14.73 and a beta of 1.37. MUELLER WATER PRODUCTS has a 12-month low of $10.45 and a 12-month high of $14.20. The firm has a 50-day moving average of $11.58 and a 200-day moving average of $11.90.
MUELLER WATER PRODUCTS (NYSE:MWA) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. MUELLER WATER PRODUCTS had a net margin of 14.47% and a return on equity of 17.17%. The company had revenue of $232.20 million during the quarter, compared to the consensus estimate of $235.07 million. During the same period in the prior year, the firm earned $0.15 earnings per share. MUELLER WATER PRODUCTS’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that MUELLER WATER PRODUCTS will post $0.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Wednesday, August 9th. MUELLER WATER PRODUCTS’s payout ratio is currently 20.00%.
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MWA has been the subject of a number of research analyst reports. Zacks Investment Research lowered MUELLER WATER PRODUCTS from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub raised MUELLER WATER PRODUCTS from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $13.00 target price (down from $15.00) on shares of MUELLER WATER PRODUCTS in a research report on Tuesday, May 2nd. Finally, CIBC decreased their target price on MUELLER WATER PRODUCTS from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, May 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $14.00.
In related news, Director Shirley C. Franklin sold 9,156 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total value of $104,378.40. Following the completion of the transaction, the director now directly owns 39,157 shares of the company’s stock, valued at $446,389.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bernard G. Rethore sold 56,400 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $11.23, for a total transaction of $633,372.00. Following the completion of the transaction, the director now directly owns 27,303 shares of the company’s stock, valued at $306,612.69. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
About MUELLER WATER PRODUCTS
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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