Insight Capital Research & Management Inc. acquired a new position in Mueller Water Products Inc. (NYSE:MWA) during the second quarter, Holdings Channel reports. The firm acquired 259,048 shares of the company’s stock, valued at approximately $2,958,000.
A number of other institutional investors have also recently bought and sold shares of MWA. Boothbay Fund Management LLC purchased a new position in Mueller Water Products during the first quarter worth approximately $143,000. Murphy Capital Management Inc. purchased a new position in Mueller Water Products during the second quarter worth approximately $175,000. Fox Run Management L.L.C. raised its position in Mueller Water Products by 18.1% in the second quarter. Fox Run Management L.L.C. now owns 18,900 shares of the company’s stock worth $216,000 after buying an additional 2,900 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Mueller Water Products by 98.3% in the second quarter. BNP Paribas Arbitrage SA now owns 25,048 shares of the company’s stock worth $286,000 after buying an additional 12,416 shares in the last quarter. Finally, Pacad Investment Ltd. purchased a new position in Mueller Water Products during the first quarter worth approximately $301,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
Mueller Water Products Inc. (NYSE:MWA) traded down 1.12% during midday trading on Monday, hitting $12.41. 489,424 shares of the company traded hands. Mueller Water Products Inc. has a 12-month low of $7.52 and a 12-month high of $13.50. The stock’s 50-day moving average is $12.22 and its 200-day moving average is $11.21. The firm has a market capitalization of $2.01 billion, a PE ratio of 33.54 and a beta of 1.33.
Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business earned $310 million during the quarter, compared to the consensus estimate of $301 million. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. Mueller Water Products’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. Analysts anticipate that Mueller Water Products Inc. will post $0.49 EPS for the current fiscal year.
A number of equities analysts recently commented on the stock. DA Davidson raised their price objective on shares of Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Zacks Investment Research lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Boenning Scattergood lowered shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Mueller Water Products presently has a consensus rating of “Buy” and an average price target of $12.25.
Mueller Water Products Company Profile
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.
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