Mueller Water Products (MWA) Position Raised by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC boosted its holdings in shares of Mueller Water Products (NYSE:MWA) by 14.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 799,895 shares of the industrial products company’s stock after purchasing an additional 98,711 shares during the period. TIAA CREF Investment Management LLC owned 0.50% of Mueller Water Products worth $9,343,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bluestein R H & Co. acquired a new stake in Mueller Water Products during the 1st quarter valued at $118,000. Blair William & Co. IL acquired a new stake in Mueller Water Products during the 1st quarter valued at $124,000. Nomura Holdings Inc. bought a new position in Mueller Water Products in the 1st quarter valued at $125,000. BlueCrest Capital Management Ltd bought a new position in Mueller Water Products in the 1st quarter valued at $133,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Mueller Water Products in the 2nd quarter valued at $140,000. 84.72% of the stock is owned by hedge funds and other institutional investors.
Mueller Water Products (NYSE MWA) opened at 12.74 on Friday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.83 and a beta of 1.29. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20. The firm has a 50-day moving average price of $12.24 and a 200-day moving average price of $11.73.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $232.20 million during the quarter, compared to the consensus estimate of $235.07 million. Mueller Water Products had a net margin of 14.47% and a return on equity of 16.85%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. On average, equities analysts anticipate that Mueller Water Products will post $0.44 earnings per share for the current fiscal year.
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MWA has been the topic of a number of recent research reports. Zacks Investment Research lowered Mueller Water Products from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BidaskClub upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Boenning Scattergood upgraded Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. set a $13.00 price objective on Mueller Water Products and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of Mueller Water Products in a research report on Friday, September 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.88.
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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