JPMorgan Chase & Co. Sells 101,797 Shares of Mueller Water Products $MWA

JPMorgan Chase & Co. cut its holdings in Mueller Water Products (NYSE:MWA) by 15.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 542,468 shares of the industrial products company’s stock after selling 101,797 shares during the quarter. JPMorgan Chase & Co. owned 0.35% of Mueller Water Products worth $13,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MWA. Covestor Ltd increased its stake in shares of Mueller Water Products by 131.8% in the 3rd quarter. Covestor Ltd now owns 1,050 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 597 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Mueller Water Products by 31.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,427 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 575 shares during the period. AlphaQuest LLC bought a new stake in Mueller Water Products in the second quarter valued at $71,000. EverSource Wealth Advisors LLC increased its stake in Mueller Water Products by 677.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,204 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 2,792 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Mueller Water Products during the first quarter valued at about $205,000. 91.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MWA has been the subject of several research reports. Royal Bank Of Canada raised their target price on Mueller Water Products from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Friday, February 6th. Oppenheimer reiterated an “outperform” rating and issued a $32.00 price target (up from $30.00) on shares of Mueller Water Products in a report on Monday, February 9th. Finally, Robert W. Baird set a $33.00 price objective on Mueller Water Products in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Mueller Water Products currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Insider Activity

In other Mueller Water Products news, SVP Todd P. Helms sold 10,720 shares of Mueller Water Products stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $29.72, for a total transaction of $318,598.40. Following the transaction, the senior vice president owned 75,197 shares of the company’s stock, valued at $2,234,854.84. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian C. Healy bought 1,125 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was acquired at an average price of $24.41 per share, for a total transaction of $27,461.25. Following the purchase, the director directly owned 17,925 shares in the company, valued at approximately $437,549.25. The trade was a 6.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Mueller Water Products Stock Performance

Shares of Mueller Water Products stock opened at $29.54 on Thursday. Mueller Water Products has a 52 week low of $22.01 and a 52 week high of $31.00. The company has a quick ratio of 2.55, a current ratio of 4.02 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $27.32 and a 200-day moving average price of $25.93. The company has a market cap of $4.62 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, February 4th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $318.20 million for the quarter, compared to analysts’ expectations of $315.26 million. Mueller Water Products had a return on equity of 22.34% and a net margin of 13.83%.Mueller Water Products’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities analysts anticipate that Mueller Water Products will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were paid a $0.07 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Mueller Water Products’s dividend payout ratio is presently 22.22%.

Mueller Water Products Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company’s portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company’s operations are organized around two primary business segments.