KBC Group NV Boosts Stake in Mueller Water Products (MWA)

KBC Group NV grew its holdings in Mueller Water Products (NYSE:MWA) by 55.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 492,664 shares of the industrial products company’s stock after acquiring an additional 176,137 shares during the quarter. KBC Group NV owned 0.31% of Mueller Water Products worth $6,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MWA. Pictet Asset Management Ltd. raised its position in Mueller Water Products by 92.8% during the second quarter. Pictet Asset Management Ltd. now owns 4,436,586 shares of the industrial products company’s stock valued at $49,601,000 after purchasing an additional 2,135,336 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Mueller Water Products by 32.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,758,490 shares of the industrial products company’s stock valued at $78,939,000 after purchasing an additional 1,654,510 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Mueller Water Products by 18.2% during the 2nd quarter. Earnest Partners LLC now owns 8,136,500 shares of the industrial products company’s stock valued at $95,034,000 after purchasing an additional 1,251,546 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Mueller Water Products during the 2nd quarter valued at about $8,803,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Mueller Water Products by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,306,195 shares of the industrial products company’s stock valued at $73,657,000 after purchasing an additional 745,251 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Shares of Mueller Water Products (NYSE:MWA) traded down $0.25 during trading hours on Wednesday, hitting $12.23. 621,300 shares of the company were exchanged, compared to its average volume of 1,240,517. The company has a current ratio of 4.73, a quick ratio of 3.75 and a debt-to-equity ratio of 0.97. Mueller Water Products has a 1 year low of $10.84 and a 1 year high of $14.20. The company has a market cap of $1,972.61, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.57 and a beta of 1.33.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.43%. The firm had revenue of $226.90 million during the quarter, compared to the consensus estimate of $227.14 million. During the same quarter last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. equities research analysts predict that Mueller Water Products will post 0.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, November 9th. Mueller Water Products’s dividend payout ratio (DPR) is currently 21.05%.

In related news, insider Gregory E. Hyland sold 84,514 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $12.27, for a total value of $1,036,986.78. Following the sale, the insider now directly owns 979,481 shares of the company’s stock, valued at approximately $12,018,231.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Evan Hart sold 167,016 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $12.11, for a total transaction of $2,022,563.76. Following the completion of the sale, the chief financial officer now directly owns 355,862 shares in the company, valued at $4,309,488.82. The disclosure for this sale can be found here. Insiders sold a total of 643,773 shares of company stock worth $7,901,596 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on MWA. Robert W. Baird reaffirmed a “hold” rating and issued a $14.00 price target on shares of Mueller Water Products in a report on Friday, November 10th. Boenning Scattergood reaffirmed a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a report on Thursday, November 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a report on Wednesday, October 11th. Cowen reaffirmed a “hold” rating and issued a $12.00 price target on shares of Mueller Water Products in a report on Thursday, September 21st. Finally, BidaskClub downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $13.75.

TRADEMARK VIOLATION WARNING: “KBC Group NV Boosts Stake in Mueller Water Products (MWA)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://ledgergazette.com/2017/12/06/kbc-group-nv-boosts-stake-in-mueller-water-products-mwa.html.

Mueller Water Products Company 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.

Want to see what other hedge funds are holding MWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Water Products (NYSE:MWA).

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

Receive News & Ratings for Mueller Water Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply