Chesapeake Capital Corp IL Makes New Investment in Mueller Water Products, Inc. (NYSE:MWA)

Chesapeake Capital Corp IL purchased a new stake in Mueller Water Products, Inc. (NYSE:MWAFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,863 shares of the industrial products company’s stock, valued at approximately $171,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Mueller Water Products by 0.3% in the third quarter. Vanguard Group Inc. now owns 14,855,884 shares of the industrial products company’s stock valued at $188,373,000 after acquiring an additional 40,079 shares during the last quarter. Nuance Investments LLC raised its holdings in shares of Mueller Water Products by 8.4% during the 4th quarter. Nuance Investments LLC now owns 13,161,657 shares of the industrial products company’s stock valued at $189,528,000 after buying an additional 1,022,785 shares in the last quarter. Franklin Resources Inc. lifted its position in Mueller Water Products by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 7,498,710 shares of the industrial products company’s stock worth $107,981,000 after buying an additional 974,333 shares during the last quarter. Brown Advisory Inc. boosted its stake in Mueller Water Products by 6.8% in the fourth quarter. Brown Advisory Inc. now owns 6,740,893 shares of the industrial products company’s stock worth $97,069,000 after buying an additional 430,572 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Mueller Water Products by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,417,005 shares of the industrial products company’s stock valued at $78,006,000 after acquiring an additional 138,018 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Mueller Water Products Trading Down 0.6 %

Shares of MWA traded down $0.11 during mid-day trading on Monday, hitting $18.79. 1,894,500 shares of the company’s stock traded hands, compared to its average volume of 1,242,511. The business’s 50-day moving average price is $16.68 and its 200-day moving average price is $15.14. Mueller Water Products, Inc. has a 1 year low of $12.11 and a 1 year high of $19.43. The firm has a market capitalization of $2.93 billion, a P/E ratio of 29.36, a PEG ratio of 1.98 and a beta of 1.33. The company has a quick ratio of 2.08, a current ratio of 3.53 and a debt-to-equity ratio of 0.59.

Mueller Water Products (NYSE:MWAGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The business had revenue of $353.40 million for the quarter, compared to the consensus estimate of $299.62 million. During the same period in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Mueller Water Products, Inc. will post 0.79 EPS for the current fiscal year.

Mueller Water Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were paid a $0.064 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, May 9th. Mueller Water Products’s payout ratio is currently 39.06%.

Insiders Place Their Bets

In other news, Director Brian C. Healy bought 2,650 shares of Mueller Water Products stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $19.18 per share, for a total transaction of $50,827.00. Following the acquisition, the director now owns 2,650 shares of the company’s stock, valued at $50,827. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Mueller Water Products news, Director Brian C. Healy bought 2,650 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $19.18 per share, for a total transaction of $50,827.00. Following the acquisition, the director now owns 2,650 shares in the company, valued at approximately $50,827. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Arsdell Stephen C. Van bought 10,000 shares of Mueller Water Products stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $15.42 per share, for a total transaction of $154,200.00. Following the completion of the transaction, the director now directly owns 80,603 shares in the company, valued at $1,242,898.26. The disclosure for this purchase can be found here. Insiders sold 65,024 shares of company stock worth $1,207,346 over the last three months. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MWA shares. StockNews.com raised shares of Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. The Goldman Sachs Group upped their price target on shares of Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Baird R W upgraded Mueller Water Products to a “hold” rating in a report on Wednesday, May 8th. Oppenheimer upgraded Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada raised their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Mueller Water Products has a consensus rating of “Hold” and an average target price of $20.00.

Check Out Our Latest Stock Analysis 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.

Further Reading

Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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