Mueller Water Products, Inc. (NYSE:MWA) Shares Sold by Nordea Investment Management AB

Posted by on May 11th, 2023

Nordea Investment Management AB lowered its position in shares of Mueller Water Products, Inc. (NYSE:MWA – Get Rating) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 510,388 shares of the industrial products company’s stock after selling 10,379 shares during the quarter. Nordea Investment Management AB owned 0.33% of Mueller Water Products worth $5,461,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Nuance Investments LLC increased its stake in Mueller Water Products by 20.9% in the 4th quarter. Nuance Investments LLC now owns 13,817,036 shares of the industrial products company’s stock valued at $148,671,000 after buying an additional 2,388,219 shares during the period. PGGM Investments acquired a new position in Mueller Water Products in the 3rd quarter valued at approximately $18,716,000. Eaton Vance Management increased its stake in Mueller Water Products by 21.0% in the 1st quarter. Eaton Vance Management now owns 3,984,187 shares of the industrial products company’s stock valued at $51,476,000 after buying an additional 690,788 shares during the period. Victory Capital Management Inc. increased its stake in Mueller Water Products by 69.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,580,312 shares of the industrial products company’s stock valued at $16,230,000 after buying an additional 648,083 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Mueller Water Products by 715.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 631,755 shares of the industrial products company’s stock valued at $6,488,000 after buying an additional 554,268 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Mueller Water Products Trading Down 2.7 %

MWA opened at $13.60 on Thursday. The company has a current ratio of 3.15, a quick ratio of 1.68 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2.13 billion, a PE ratio of 26.67, a PEG ratio of 1.80 and a beta of 1.30. Mueller Water Products, Inc. has a 1-year low of $9.90 and a 1-year high of $14.98. The firm has a 50-day moving average price of $13.48 and a two-hundred day moving average price of $12.52.

Mueller Water Products (NYSE:MWA – Get Rating) last issued its earnings results on Monday, May 8th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $332.90 million during the quarter, compared to the consensus estimate of $332.45 million. Mueller Water Products had a net margin of 5.90% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. As a group, equities analysts anticipate that Mueller Water Products, Inc. will post 0.68 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Shareholders of record on Wednesday, May 10th will be paid a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 9th. Mueller Water Products’s payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com began coverage on shares of Mueller Water Products in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet upgraded shares of Mueller Water Products from a “c+” rating to a “b” rating in a research note on Friday, February 3rd. DA Davidson increased their price target on shares of Mueller Water Products from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group increased their price target on shares of Mueller Water Products from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Finally, Royal Bank of Canada increased their price target on shares of Mueller Water Products from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.57.

Mueller Water Products Company Profile

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Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution, and measurement of water. It operates through the Water Flow Solutions and Water Management Solutions segments. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products.

Further Reading

Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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