Wells Fargo & Company MN increased its stake in Mueller Water Products (NYSE:MWA) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,550,543 shares of the industrial products company’s stock after acquiring an additional 69,403 shares during the quarter. Wells Fargo & Company MN owned about 1.60% of Mueller Water Products worth $29,791,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bluestein R H & Co. acquired a new position in shares of Mueller Water Products in the first quarter worth approximately $118,000. Blair William & Co. IL acquired a new position in shares of Mueller Water Products in the first quarter worth approximately $124,000. Nomura Holdings Inc. acquired a new position in shares of Mueller Water Products in the first quarter worth approximately $125,000. BlueCrest Capital Management Ltd acquired a new position in shares of Mueller Water Products in the first quarter worth approximately $133,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Mueller Water Products in the second quarter worth approximately $140,000. 84.72% of the stock is currently owned by institutional investors.

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MWA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub raised Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Oppenheimer Holdings, Inc. set a $13.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a research note on Monday, July 31st. Boenning Scattergood raised Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research note on Tuesday, September 5th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Mueller Water Products in a research note on Friday, September 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Mueller Water Products currently has an average rating of “Buy” and a consensus target price of $13.67.

Mueller Water Products (NYSE:MWA) opened at 12.51 on Friday. Mueller Water Products has a 52 week low of $10.45 and a 52 week high of $14.20. The firm has a 50-day moving average price of $11.93 and a 200 day moving average price of $11.67. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 15.54 and a beta of 1.36.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share for the quarter, hitting 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 return on equity of 16.85% and a net margin of 14.47%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, equities research analysts forecast that Mueller Water Products will post $0.44 earnings per share for the current fiscal year.

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

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