EDENTREE ASSET MANAGEMENT Ltd Sells 143,150 Shares of Mueller Water Products, Inc. (NYSE:MWA)

by · The Cerbat Gem

EDENTREE ASSET MANAGEMENT Ltd trimmed its position in Mueller Water Products, Inc. (NYSE:MWA – Free Report) by 39.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,505 shares of the industrial products company’s stock after selling 143,150 shares during the period. Mueller Water Products makes up approximately 1.4% of EDENTREE ASSET MANAGEMENT Ltd’s portfolio, making the stock its 27th biggest position. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Mueller Water Products were worth $4,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MWA. Barclays PLC increased its position in Mueller Water Products by 361.6% in the 3rd quarter. Barclays PLC now owns 266,155 shares of the industrial products company’s stock valued at $5,775,000 after buying an additional 208,502 shares in the last quarter. Blue Trust Inc. boosted its stake in Mueller Water Products by 87.4% during the 4th quarter. Blue Trust Inc. now owns 9,167 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 4,275 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Mueller Water Products during the 4th quarter valued at about $1,573,000. R Squared Ltd acquired a new position in Mueller Water Products during the 4th quarter valued at about $100,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Mueller Water Products by 20.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,455 shares of the industrial products company’s stock valued at $393,000 after purchasing an additional 3,000 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

Insider Transactions at Mueller Water Products

In related news, Director Brian Slobodow sold 7,376 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $24.57, for a total value of $181,228.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lydia W. Thomas sold 17,092 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $26.77, for a total value of $457,552.84. Following the completion of the transaction, the director now owns 126,689 shares in the company, valued at approximately $3,391,464.53. The trade was a 11.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,600 shares of company stock worth $914,076 in the last 90 days. Insiders own 1.10% of the company’s stock.

Mueller Water Products Price Performance

Shares of NYSE MWA opened at $24.62 on Thursday. Mueller Water Products, Inc. has a twelve month low of $17.09 and a twelve month high of $28.58. The stock’s 50 day moving average price is $25.52 and its 200-day moving average price is $24.82. The company has a market capitalization of $3.86 billion, a PE ratio of 28.63, a PEG ratio of 1.43 and a beta of 1.24. The company has a quick ratio of 2.38, a current ratio of 3.83 and a debt-to-equity ratio of 0.54.

Mueller Water Products (NYSE:MWA – Get Free Report) last announced its earnings results on Monday, May 5th. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. The firm had revenue of $364.30 million for the quarter, compared to the consensus estimate of $352.30 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Mueller Water Products, Inc. will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were paid a $0.067 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.09%. Mueller Water Products’s payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. StockNews.com downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada lifted their price target on Mueller Water Products from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.25.

Check Out Our Latest Research Report on MWA

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. It operates in two segments, Water Flow Solutions and Water Management Solutions.

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