Convergence Investment Partners LLC Boosts Stock Position in Mueller Water Products, Inc. (NYSE:MWA)

Convergence Investment Partners LLC lifted its position in shares of Mueller Water Products, Inc. (NYSE:MWA) by 44.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,556 shares of the industrial products company’s stock after purchasing an additional 20,016 shares during the period. Convergence Investment Partners LLC’s holdings in Mueller Water Products were worth $1,453,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Mueller Water Products during the third quarter worth about $26,000. R Squared Ltd purchased a new stake in Mueller Water Products in the fourth quarter worth about $100,000. Blue Trust Inc. increased its stake in shares of Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 3,977 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Mueller Water Products by 468.1% during the third quarter. TD Private Client Wealth LLC now owns 5,408 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 4,456 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Mueller Water Products during the fourth quarter valued at approximately $146,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Water Products Trading Up 0.7 %

Shares of Mueller Water Products stock opened at $27.06 on Wednesday. The company’s fifty day simple moving average is $23.72 and its 200-day simple moving average is $22.69. The stock has a market capitalization of $4.24 billion, a PE ratio of 31.46, a P/E/G ratio of 1.49 and a beta of 1.38. Mueller Water Products, Inc. has a 1-year low of $14.81 and a 1-year high of $28.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.83 and a quick ratio of 2.38.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, equities analysts anticipate that Mueller Water Products, Inc. will post 1.21 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be paid a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Monday, February 10th. Mueller Water Products’s dividend payout ratio (DPR) is 31.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MWA. The Goldman Sachs Group raised their price target on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their target price on shares of Mueller Water Products from $25.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $27.00 target price (up previously from $26.00) on shares of Mueller Water Products in a research report on Friday, November 8th. Finally, StockNews.com downgraded shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Mueller Water Products currently has a consensus rating of “Hold” and a consensus price target of $25.80.

Insider Activity at Mueller Water Products

In related news, SVP Todd P. Helms sold 57,948 shares of Mueller Water Products stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $25.69, for a total transaction of $1,488,684.12. Following the transaction, the senior vice president now owns 43,224 shares in the company, valued at approximately $1,110,424.56. The trade was a 57.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Suzanne G. Smith sold 26,138 shares of Mueller Water Products stock in a transaction on Monday, December 9th. The shares were sold at an average price of $24.99, for a total transaction of $653,188.62. Following the transaction, the chief accounting officer now owns 9,378 shares in the company, valued at approximately $234,356.22. This trade represents a 73.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,642 shares of company stock worth $2,230,844. 1.10% of the stock is owned by corporate insiders.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.