Entropy Technologies LP Reduces Position in Mueller Water Products, Inc. (NYSE:MWA)

Entropy Technologies LP reduced its position in Mueller Water Products, Inc. (NYSE:MWA) by 36.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,858 shares of the industrial products company’s stock after selling 5,595 shares during the quarter. Entropy Technologies LP’s holdings in Mueller Water Products were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Mueller Water Products during the third quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in Mueller Water Products in the second quarter worth approximately $72,000. National Bank of Canada FI lifted its position in Mueller Water Products by 44.2% in the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 1,457 shares during the period. Quarry LP lifted its position in shares of Mueller Water Products by 341.0% during the 2nd quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 4,355 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Mueller Water Products by 434.6% during the 3rd quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 3,977 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

Mueller Water Products Stock Performance

NYSE:MWA opened at $24.31 on Monday. Mueller Water Products, Inc. has a 12-month low of $13.08 and a 12-month high of $26.28. The company has a quick ratio of 2.31, a current ratio of 3.70 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.79 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34. The firm has a 50-day moving average price of $22.09 and a 200 day moving average price of $20.12.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $348.20 million during the quarter, compared to analyst estimates of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. Research analysts anticipate that Mueller Water Products, Inc. will post 1.17 earnings per share for the current fiscal year.

Mueller Water Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 8th will be issued a $0.067 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. Mueller Water Products’s dividend payout ratio (DPR) is currently 36.99%.

Analyst Ratings Changes

Several analysts have issued reports on MWA shares. TD Cowen downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating and boosted their target price for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and issued a $27.00 price objective (up from $26.00) on shares of Mueller Water Products in a report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.20.

Mueller Water Products Company 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.