Dynamic Technology Lab Private Ltd Reduces Stock Position in Mueller Water Products, Inc. (NYSE:MWA)

Dynamic Technology Lab Private Ltd cut its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 18.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,795 shares of the industrial products company’s stock after selling 11,018 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Mueller Water Products were worth $1,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Mueller Water Products by 1.5% in the third quarter. The Manufacturers Life Insurance Company now owns 87,308 shares of the industrial products company’s stock valued at $1,895,000 after acquiring an additional 1,307 shares during the period. FMR LLC increased its position in shares of Mueller Water Products by 4.3% during the 3rd quarter. FMR LLC now owns 908,970 shares of the industrial products company’s stock valued at $19,725,000 after purchasing an additional 37,095 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Mueller Water Products in the third quarter worth approximately $681,000. Point72 DIFC Ltd bought a new stake in Mueller Water Products during the third quarter valued at approximately $232,000. Finally, State Street Corp increased its holdings in Mueller Water Products by 0.3% during the third quarter. State Street Corp now owns 3,931,662 shares of the industrial products company’s stock valued at $85,317,000 after buying an additional 12,438 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MWA has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Mueller Water Products from $25.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. StockNews.com lowered Mueller Water Products from a “buy” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group raised their price objective on Mueller Water Products from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.80.

Mueller Water Products Price Performance

Shares of Mueller Water Products stock opened at $23.27 on Friday. 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, Inc. has a 52 week low of $14.81 and a 52 week high of $28.58. The stock’s 50-day simple moving average is $25.83 and its 200-day simple moving average is $24.06. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.43 and a beta of 1.39.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, analysts expect that Mueller Water Products, Inc. will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid a $0.067 dividend. This represents a $0.27 annualized dividend and a yield of 1.15%. The ex-dividend date was Monday, February 10th. Mueller Water Products’s payout ratio is currently 30.23%.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Brian Slobodow sold 11,132 shares of Mueller Water Products stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $24.73, for a total value of $275,294.36. Following the sale, the director now owns 7,376 shares of the company’s stock, valued at $182,408.48. The trade was a 60.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lydia W. Thomas sold 17,092 shares of the 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 transaction, the director now owns 126,689 shares of the company’s stock, valued at $3,391,464.53. This represents a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Mueller Water Products Profile

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.