Ameriprise Financial Inc. lowered its position in Mueller Water Products Inc. (NYSE:MWA) by 29.2% during the second quarter, Holdings Channel reports. The fund owned 493,523 shares of the company’s stock after selling 203,747 shares during the period. Ameriprise Financial Inc. owned about 0.31% of Mueller Water Products worth $5,637,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. RS Investment Management Co. LLC acquired a new position in shares of Mueller Water Products during the second quarter worth about $15,590,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Mueller Water Products by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,840,730 shares of the company’s stock worth $37,946,000 after buying an additional 41,531 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Mueller Water Products during the first quarter worth $301,000. Franklin Resources Inc. bought a new stake in shares of Mueller Water Products during the first quarter worth $13,816,000. Finally, State Street Corp raised its stake in shares of Mueller Water Products by 6.0% in the first quarter. State Street Corp now owns 2,866,175 shares of the company’s stock worth $28,318,000 after buying an additional 163,171 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Mueller Water Products Inc. (NYSE:MWA) traded down 1.36% during midday trading on Thursday, hitting $12.32. 299,116 shares of the stock traded hands. The company’s 50 day moving average is $12.21 and its 200-day moving average is $11.33. The company has a market cap of $1.99 billion, a P/E ratio of 33.30 and a beta of 1.33. Mueller Water Products Inc. has a one year low of $7.52 and a one year high of $13.50.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. The business had revenue of $310 million for the quarter, compared to analyst estimates of $301 million. During the same period last year, the business earned $0.15 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that Mueller Water Products Inc. will post $0.49 EPS for the current fiscal year.
MWA has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Mueller Water Products from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. DA Davidson boosted their price objective on shares of Mueller Water Products from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Northcoast Research raised shares of Mueller Water Products from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, Boenning Scattergood lowered shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $12.25.
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. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.