Magnetar Financial LLC Purchases 3,849 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Magnetar Financial LLC raised its position in Mueller Water Products, Inc. (NYSE:MWA) by 25.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,903 shares of the industrial products company’s stock after buying an additional 3,849 shares during the period. Magnetar Financial LLC’s holdings in Mueller Water Products were worth $425,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MWA. Principal Financial Group Inc. boosted its position in Mueller Water Products by 2,962.3% in the 4th quarter. Principal Financial Group Inc. now owns 3,015,009 shares of the industrial products company’s stock valued at $67,838,000 after buying an additional 2,916,552 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Mueller Water Products by 10.1% in the 3rd quarter. Franklin Resources Inc. now owns 8,618,782 shares of the industrial products company’s stock valued at $197,456,000 after purchasing an additional 791,569 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Mueller Water Products by 67.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,644,603 shares of the industrial products company’s stock valued at $37,004,000 after purchasing an additional 662,637 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Mueller Water Products in the 4th quarter valued at $12,757,000. Finally, Lightrock Netherlands B.V. acquired a new position in shares of Mueller Water Products in the 4th quarter valued at $9,780,000. 91.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Mueller Water Products from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group increased their price target on Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.80.

Mueller Water Products Stock Performance

Shares of Mueller Water Products stock opened at $26.90 on Friday. The company has a market capitalization of $4.21 billion, a PE ratio of 31.27, a PEG ratio of 1.43 and a beta of 1.39. Mueller Water Products, Inc. has a 12 month low of $14.81 and a 12 month high of $28.58. The company has a current ratio of 3.83, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $25.28 and its 200 day simple moving average is $23.65.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, research analysts predict that Mueller Water Products, Inc. will post 1.24 EPS for the current year.

Mueller Water Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid a $0.067 dividend. This represents a $0.27 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, February 10th. Mueller Water Products’s dividend payout ratio is 30.23%.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Lydia W. Thomas sold 17,092 shares of Mueller Water Products stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total value of $457,552.84. Following the sale, the director now owns 126,689 shares of the company’s stock, valued at $3,391,464.53. This trade represents a 11.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Slobodow sold 11,132 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.73, for a total value of $275,294.36. Following the completion of the transaction, the director now owns 7,376 shares of the company’s stock, valued at $182,408.48. The trade was a 60.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.