Teacher Retirement System of Texas increased its position in Mueller Water Products Inc. (NYSE:MWA) by 14.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,584 shares of the company’s stock after buying an additional 2,852 shares during the period. Teacher Retirement System of Texas’ holdings in Mueller Water Products were worth $258,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services Inc bought a new stake in shares of Mueller Water Products during the second quarter worth approximately $141,000. Boothbay Fund Management LLC bought a new stake in shares of Mueller Water Products during the first quarter worth approximately $143,000. Wedbush Securities Inc. boosted its stake in shares of Mueller Water Products by 17.9% in the second quarter. Wedbush Securities Inc. now owns 12,654 shares of the company’s stock worth $145,000 after buying an additional 1,921 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Mueller Water Products by 156.3% in the second quarter. Victory Capital Management Inc. now owns 13,859 shares of the company’s stock worth $158,000 after buying an additional 8,452 shares in the last quarter. Finally, Murphy Capital Management Inc. bought a new stake in shares of Mueller Water Products during the second quarter worth approximately $175,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mueller Water Products Inc. (NYSE:MWA) opened at 12.33 on Tuesday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 33.32 and a beta of 1.33. The firm’s 50-day moving average is $12.21 and its 200-day moving average is $11.40. Mueller Water Products Inc. has a 52 week low of $7.52 and a 52 week high of $13.50.
Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company 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 was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. Analysts forecast that Mueller Water Products Inc. will post $0.49 earnings per share for the current fiscal year.
A number of analysts have recently commented on MWA shares. Zacks Investment Research raised Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, August 9th. Northcoast Research raised Mueller Water Products from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 12th. Boenning Scattergood cut Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 13th. Finally, DA Davidson boosted their price objective on shares of Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average 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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