ProShare Advisors LLC Has $373,000 Holdings in Mueller Water Products, Inc. (NYSE:MWA)

ProShare Advisors LLC lessened its stake in Mueller Water Products, Inc. (NYSE:MWA) by 25.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,802 shares of the industrial products company’s stock after selling 7,102 shares during the quarter. ProShare Advisors LLC’s holdings in Mueller Water Products were worth $373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Daiwa Securities Group Inc. acquired a new position in Mueller Water Products during the first quarter worth $46,000. Allspring Global Investments Holdings LLC bought a new stake in Mueller Water Products during the second quarter worth $72,000. National Bank of Canada FI raised its position in Mueller Water Products by 44.2% during the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 1,457 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Mueller Water Products during the first quarter worth $80,000. Finally, TFO Wealth Partners LLC raised its position in Mueller Water Products by 345,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,916 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 6,914 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Insiders Place Their Bets

In other Mueller Water Products news, Director Christine Ortiz sold 8,800 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total transaction of $175,472.00. Following the sale, the director now directly owns 34,699 shares in the company, valued at $691,898.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Thomas J. Hansen sold 10,791 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.55, for a total value of $221,755.05. Following the sale, the director now directly owns 102,792 shares in the company, valued at approximately $2,112,375.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total transaction of $175,472.00. Following the completion of the sale, the director now owns 34,699 shares in the company, valued at $691,898.06. The disclosure for this sale can be found here. Insiders have sold 256,869 shares of company stock worth $5,141,842 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Mueller Water Products Trading Up 0.6 %

MWA stock opened at $21.49 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. The company’s 50-day simple moving average is $20.48 and its 200 day simple moving average is $18.50. Mueller Water Products, Inc. has a 52 week low of $12.13 and a 52 week high of $21.71. The company has a market capitalization of $3.35 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 1.52 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $356.70 million for the quarter, compared to the consensus estimate of $329.67 million. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. As a group, sell-side analysts anticipate that Mueller Water Products, Inc. will post 0.93 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were paid a dividend of $0.064 per share. The ex-dividend date was Friday, August 9th. This represents a $0.26 dividend on an annualized basis and a yield of 1.19%. Mueller Water Products’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MWA shares. TD Cowen lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating and increased their price objective for the company from $19.00 to $20.00 in a research report on Friday, August 9th. Oppenheimer increased their price objective on shares of Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada increased their price objective on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.60.

Mueller Water Products Profile

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.