Victory Capital Management Inc. Sells 463,693 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Victory Capital Management Inc. lowered its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 90.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,201 shares of the industrial products company’s stock after selling 463,693 shares during the quarter. Victory Capital Management Inc.’s holdings in Mueller Water Products were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Mueller Water Products by 1.2% during the second quarter. Vanguard Group Inc. now owns 14,481,353 shares of the industrial products company’s stock valued at $208,821,000 after purchasing an additional 165,793 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Mueller Water Products by 5.1% in the second quarter. Franklin Resources Inc. now owns 7,644,934 shares of the industrial products company’s stock worth $110,240,000 after acquiring an additional 367,750 shares in the last quarter. State Street Corp boosted its holdings in Mueller Water Products by 2.3% in the second quarter. State Street Corp now owns 3,362,419 shares of the industrial products company’s stock worth $48,486,000 after acquiring an additional 75,276 shares in the last quarter. Amundi acquired a new stake in Mueller Water Products in the second quarter worth about $42,001,000. Finally, Geode Capital Management LLC boosted its holdings in Mueller Water Products by 4.0% in the second quarter. Geode Capital Management LLC now owns 2,614,228 shares of the industrial products company’s stock worth $37,697,000 after acquiring an additional 99,974 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Shares of MWA stock opened at $13.34 on Friday. The stock has a 50 day moving average of $14.22 and a 200 day moving average of $14.98. The company has a current ratio of 2.97, a quick ratio of 2.13 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.11 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.76 and a beta of 1.36. Mueller Water Products, Inc. has a twelve month low of $11.77 and a twelve month high of $17.37.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Monday, November 8th. The industrial products company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). The company had revenue of $295.60 million for the quarter, compared to analysts’ expectations of $296.21 million. Mueller Water Products had a net margin of 6.34% and a return on equity of 13.16%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, research analysts predict that Mueller Water Products, Inc. will post 0.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 22nd. Investors of record on Wednesday, November 10th were given a dividend of $0.058 per share. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.06. This represents a $0.23 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, November 9th. Mueller Water Products’s dividend payout ratio (DPR) is currently 51.11%.

In related news, Director Shirley C. Franklin sold 5,111 shares of Mueller Water Products stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $16.43, for a total transaction of $83,973.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on MWA shares. Zacks Investment Research raised Mueller Water Products from a “sell” rating to a “hold” rating in a report on Wednesday. Oppenheimer cut Mueller Water Products from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 10th. Finally, Boenning Scattergood cut Mueller Water Products from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 9th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Mueller Water Products currently has a consensus rating of “Hold” and an average price target of $15.50.

Mueller Water Products Company Profile

Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution and measurement of water. It operates though the following segments: Infrastructure, and Technologies. The Infrastructure segment involves in the manufacture of valves for water and gas systems including butterfly, iron gate, tapping, check, knife, plug and ball valves, 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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