BNP Paribas Arbitrage SA raised its position in Mueller Water Products, Inc. (NYSE:MWA) by 370.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,249 shares of the industrial products company’s stock after purchasing an additional 30,913 shares during the period. BNP Paribas Arbitrage SA’s holdings in Mueller Water Products were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. CWM Advisors LLC purchased a new stake in shares of Mueller Water Products in the 4th quarter valued at approximately $92,000. Paloma Partners Management Co purchased a new position in shares of Mueller Water Products in the 4th quarter valued at $103,000. Quantamental Technologies LLC purchased a new position in shares of Mueller Water Products in the 4th quarter valued at $112,000. Blueshift Asset Management LLC purchased a new position in shares of Mueller Water Products in the 4th quarter valued at $124,000. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Mueller Water Products in the 4th quarter valued at $130,000. 89.96% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. TheStreet downgraded shares of Mueller Water Products from a “b-” rating to a “c” rating in a research report on Tuesday, February 5th. Seaport Global Securities raised shares of Mueller Water Products from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Friday, May 10th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Mueller Water Products in a research report on Tuesday, February 5th. Finally, Goldman Sachs Group downgraded shares of Mueller Water Products from a “buy” rating to a “neutral” rating and dropped their target price for the company from $13.00 to $11.00 in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.33.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Monday, May 6th. The industrial products company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The company had revenue of $234.00 million during the quarter, compared to analysts’ expectations of $252.06 million. Mueller Water Products had a net margin of 3.24% and a return on equity of 15.89%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business earned $0.12 earnings per share. On average, research analysts forecast that Mueller Water Products, Inc. will post 0.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, May 9th. Mueller Water Products’s dividend payout ratio is currently 37.74%.
In other Mueller Water Products news, Director Bernard G. Rethore purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average price of $9.19 per share, for a total transaction of $91,900.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.
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About Mueller Water Products
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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