Jennison Associates LLC Sells 44,166 Shares of Mueller Water Products (MWA)
Jennison Associates LLC decreased its position in Mueller Water Products (NYSE:MWA) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,619,539 shares of the industrial products company’s stock after selling 44,166 shares during the period. Jennison Associates LLC owned approximately 1.02% of Mueller Water Products worth $18,916,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Blair William & Co. IL acquired a new position in shares of Mueller Water Products during the first quarter worth $124,000. Bluestein R H & Co. acquired a new position in shares of Mueller Water Products during the first quarter worth $118,000. Nomura Holdings Inc. acquired a new position in shares of Mueller Water Products during the first quarter worth $125,000. BlueCrest Capital Management Ltd acquired a new position in shares of Mueller Water Products during the first quarter worth $133,000. Finally, Teza Capital Management LLC acquired a new position in shares of Mueller Water Products during the first quarter worth $136,000. 89.13% of the stock is currently owned by institutional investors and hedge funds.
Mueller Water Products (NYSE MWA) opened at 11.67 on Friday. The firm has a 50-day moving average price of $11.65 and a 200-day moving average price of $11.76. Mueller Water Products has a 52 week low of $10.45 and a 52 week high of $14.20. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.50 and a beta of 1.37.
Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. The firm had revenue of $232.20 million for the quarter, compared to analyst estimates of $235.07 million. Mueller Water Products had a net margin of 14.47% and a return on equity of 16.85%. Mueller Water Products’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. Analysts anticipate that Mueller Water Products will post $0.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 11th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Wednesday, August 9th. Mueller Water Products’s dividend payout ratio is presently 20.00%.
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A number of brokerages have weighed in on MWA. Zacks Investment Research lowered Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $13.00 target price on Mueller Water Products and gave the stock a “buy” rating in a research note on Monday, July 31st. BidaskClub lowered Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, CIBC decreased their target price on Mueller Water Products from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.00.
In related news, Director Bernard G. Rethore sold 56,400 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $11.23, for a total value of $633,372.00. Following the transaction, the director now directly owns 27,303 shares of the company’s stock, valued at approximately $306,612.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shirley C. Franklin sold 9,156 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total transaction of $104,378.40. Following the completion of the transaction, the director now directly owns 39,157 shares in the company, valued at $446,389.80. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
About Mueller Water Products
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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