Balboa Wealth Partners Purchases New Shares in Mueller Water Products, Inc. (NYSE:MWA)

Balboa Wealth Partners acquired a new position in Mueller Water Products, Inc. (NYSE:MWA) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,975 shares of the industrial products company’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MWA. Franklin Resources Inc. lifted its stake in shares of Mueller Water Products by 10.1% in the third quarter. Franklin Resources Inc. now owns 8,618,782 shares of the industrial products company’s stock worth $197,456,000 after acquiring an additional 791,569 shares in the last quarter. State Street Corp increased its holdings in Mueller Water Products by 0.3% during the 3rd quarter. State Street Corp now owns 3,931,662 shares of the industrial products company’s stock worth $85,317,000 after purchasing an additional 12,438 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Mueller Water Products by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,538,901 shares of the industrial products company’s stock valued at $76,809,000 after purchasing an additional 73,069 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Mueller Water Products by 2,962.3% during the 4th quarter. Principal Financial Group Inc. now owns 3,015,009 shares of the industrial products company’s stock valued at $67,838,000 after buying an additional 2,916,552 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Mueller Water Products by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,952,282 shares of the industrial products company’s stock valued at $43,926,000 after buying an additional 7,567 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Stock Performance

Shares of MWA opened at $26.36 on Friday. The business’s fifty day moving average price is $24.62 and its 200 day moving average price is $23.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.83 and a quick ratio of 2.38. Mueller Water Products, Inc. has a 12-month low of $14.81 and a 12-month high of $28.25. The stock has a market capitalization of $4.13 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.13 earnings per share. Equities research analysts forecast that Mueller Water Products, Inc. will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were given a $0.067 dividend. This represents a $0.27 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Monday, February 10th. Mueller Water Products’s dividend payout ratio is presently 30.23%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Royal Bank of Canada upped their target price on shares of 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.80.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Brian Slobodow sold 11,132 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 in the company, valued at approximately $182,408.48. This trade represents a 60.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lydia W. Thomas sold 17,092 shares of Mueller Water Products 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 sale, the director now directly owns 126,689 shares in the company, valued at approximately $3,391,464.53. This trade represents a 11.89 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.