Janney Montgomery Scott LLC Boosts Stake in Mueller Water Products, Inc. (NYSE:MWA)

Posted by Defense World Staff on Oct 24th, 2023

Janney Montgomery Scott LLC raised its position in shares of Mueller Water Products, Inc. (NYSE:MWA – Free Report) by 10.7% in the second quarter, Holdings Channel.com reports. The fund owned 72,138 shares of the industrial products company’s stock after buying an additional 6,975 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mueller Water Products were worth $1,171,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Mueller Water Products by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,962 shares of the industrial products company’s stock worth $145,000 after buying an additional 1,062 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Mueller Water Products by 98,060.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 18,650,527 shares of the industrial products company’s stock worth $302,698,000 after buying an additional 18,631,527 shares during the period. Mcdonald Partners LLC boosted its position in shares of Mueller Water Products by 107.9% in the second quarter. Mcdonald Partners LLC now owns 99,265 shares of the industrial products company’s stock worth $1,611,000 after buying an additional 51,515 shares during the period. Perpetual Ltd boosted its position in shares of Mueller Water Products by 2.2% in the second quarter. Perpetual Ltd now owns 371,963 shares of the industrial products company’s stock worth $6,037,000 after buying an additional 8,140 shares during the period. Finally, Sciencast Management LP purchased a new stake in shares of Mueller Water Products in the second quarter worth about $200,000.

Mueller Water Products Trading Down 0.3 %

NYSE:MWA opened at $12.21 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 3.46. Mueller Water Products, Inc. has a one year low of $10.55 and a one year high of $16.62. The business’s 50-day simple moving average is $13.12 and its 200 day simple moving average is $14.17. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35.

Mueller Water Products (NYSE:MWA – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Mueller Water Products had a return on equity of 12.22% and a net margin of 5.77%. The business had revenue of $326.60 million during the quarter, compared to analyst estimates of $351.74 million. During the same quarter last year, the firm posted $0.19 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Mueller Water Products, Inc. will post 0.55 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Thursday, August 10th were paid a dividend of $0.061 per share. This represents a $0.24 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 9th. Mueller Water Products’s payout ratio is currently 48.98%.

Analysts Set New Price Targets

MWA has been the subject of several analyst reports. StockNews.com downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Northcoast Research downgraded Mueller Water Products from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mueller Water Products has an average rating of “Hold” and a consensus target price of $14.20.

Get Our Latest Stock Report on MWA

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, SVP Kenji Takeuchi sold 1,855 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $14.16, for a total transaction of $26,266.80. Following the sale, the senior vice president now owns 28,209 shares in the company, valued at $399,439.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Michael T. Tokarz sold 13,269 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $13.08, for a total transaction of $173,558.52. Following the sale, the director now directly owns 392,502 shares in the company, valued at approximately $5,133,926.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenji Takeuchi sold 1,855 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $14.16, for a total value of $26,266.80. Following the sale, the senior vice president now owns 28,209 shares in the company, valued at $399,439.44. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

About Mueller Water Products

(Free Report)

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. The company operates in two segments, Water Flow Solutions and Water Management Solutions.