Mueller Water Products (MWA) Shares Bought by Franklin Resources Inc.
Franklin Resources Inc. lifted its holdings in Mueller Water Products (NYSE:MWA) by 5.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,646,300 shares of the industrial products company’s stock after buying an additional 389,500 shares during the quarter. Franklin Resources Inc. owned about 4.79% of Mueller Water Products worth $89,308,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Bluestein R H & Co. bought a new position in shares of Mueller Water Products in the first quarter valued at about $118,000. Blair William & Co. IL bought a new position in shares of Mueller Water Products in the first quarter valued at about $124,000. Nomura Holdings Inc. bought a new position in shares of Mueller Water Products in the first quarter valued at about $125,000. BlueCrest Capital Management Ltd bought a new position in shares of Mueller Water Products in the first quarter valued at about $133,000. Finally, Teza Capital Management LLC bought a new position in shares of Mueller Water Products in the first quarter valued at about $136,000. 84.73% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on MWA. Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 price target on shares of Mueller Water Products in a report on Friday, September 8th. BidaskClub upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Mueller Water Products from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $13.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Boenning Scattergood upgraded Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Mueller Water Products has a consensus rating of “Buy” and a consensus price target of $13.88.
Shares of Mueller Water Products (MWA) opened at 12.25 on Wednesday. The company has a 50-day moving average price of $11.81 and a 200-day moving average price of $11.69. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 15.22 and a beta of 1.36. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $232.20 million during the quarter, compared to the consensus estimate of $235.07 million. Mueller Water Products had a return on equity of 16.85% and a net margin of 14.47%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Equities analysts forecast that Mueller Water Products will post $0.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 11th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.31%. Mueller Water Products’s dividend payout ratio (DPR) is 20.00%.
Mueller Water Products Profile
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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