First Trust Advisors LP Decreases Holdings in Mueller Water Products, Inc. (NYSE:MWA)

First Trust Advisors LP reduced its position in shares of Mueller Water Products, Inc. (NYSE:MWA) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,065,429 shares of the industrial products company’s stock after selling 47,889 shares during the period. First Trust Advisors LP owned 0.67% of Mueller Water Products worth $10,697,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in Mueller Water Products by 47.2% in the 4th quarter. Rhumbline Advisers now owns 214,953 shares of the industrial products company’s stock valued at $1,956,000 after acquiring an additional 68,964 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Mueller Water Products by 23.5% in the 4th quarter. SG Americas Securities LLC now owns 31,113 shares of the industrial products company’s stock worth $283,000 after buying an additional 5,929 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Mueller Water Products by 57.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 92,328 shares of the industrial products company’s stock worth $840,000 after buying an additional 33,707 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Mueller Water Products by 9.1% in the 4th quarter. Victory Capital Management Inc. now owns 98,510 shares of the industrial products company’s stock worth $896,000 after buying an additional 8,224 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Mueller Water Products by 6.7% in the 4th quarter. Prudential Financial Inc. now owns 19,223 shares of the industrial products company’s stock worth $175,000 after buying an additional 1,212 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

In related news, Director Bernard G. Rethore acquired 10,000 shares of the stock in a transaction on Thursday, May 9th. The stock was bought at an average cost of $9.19 per share, with a total value of $91,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Shirley C. Franklin sold 6,700 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $9.55, for a total transaction of $63,985.00. Following the completion of the sale, the director now directly owns 52,892 shares of the company’s stock, valued at $505,118.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Seaport Global Securities assumed coverage on shares of United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 target price on the stock. Boenning Scattergood restated a “hold” rating on shares of Mueller Water Products in a report on Tuesday, May 7th. Goldman Sachs Group assumed coverage on shares of Tricida in a report on Wednesday, June 26th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Zafgen from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.83.

NYSE:MWA traded up $0.08 during mid-day trading on Friday, hitting $9.69. 564,323 shares of the stock traded hands, compared to its average volume of 664,891. The stock has a market cap of $1.53 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17. The company has a quick ratio of 1.89, a current ratio of 3.07 and a debt-to-equity ratio of 0.81. Mueller Water Products, Inc. has a 52 week low of $8.47 and a 52 week high of $12.59. The stock has a 50 day moving average price of $9.68.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $234.00 million during the quarter, compared to analysts’ expectations of $252.06 million. Mueller Water Products had a net margin of 3.24% and a return on equity of 15.89%. Mueller Water Products’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Research analysts predict that Mueller Water Products, Inc. will post 0.59 EPS for the current fiscal year.

Mueller Water Products Profile

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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Institutional Ownership by Quarter for Mueller Water Products (NYSE:MWA)

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