Mueller Water Products, Inc. (NYSE:MWA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 77,250 shares of the industrial products company’s stock after selling 5,831 shares during the period. Corebridge Financial Inc.’s holdings in Mueller Water Products were worth $1,738,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MWA. Millstone Evans Group LLC acquired a new position in Mueller Water Products during the 4th quarter worth approximately $63,000. R Squared Ltd purchased a new stake in shares of Mueller Water Products during the 4th quarter worth $100,000. TD Private Client Wealth LLC grew its stake in shares of Mueller Water Products by 468.1% during the third quarter. TD Private Client Wealth LLC now owns 5,408 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,456 shares in the last quarter. Blue Trust Inc. increased its holdings in Mueller Water Products by 14.8% in the fourth quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company’s stock valued at $126,000 after buying an additional 726 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Mueller Water Products by 36.9% in the third quarter. National Bank of Canada FI now owns 6,514 shares of the industrial products company’s stock valued at $141,000 after buying an additional 1,757 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Brian Slobodow sold 11,132 shares of Mueller Water Products stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $24.73, for a total value of $275,294.36. Following the transaction, the director now directly owns 7,376 shares in the company, valued at $182,408.48. This trade represents a 60.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lydia W. Thomas sold 17,092 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total transaction of $457,552.84. Following the transaction, the director now owns 126,689 shares of the company’s stock, valued at approximately $3,391,464.53. The trade was a 11.89 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Mueller Water Products Stock Up 1.5 %

Mueller Water Products stock opened at $26.08 on Thursday. The company has a market capitalization of $4.08 billion, a P/E ratio of 30.33, a PEG ratio of 1.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.83. Mueller Water Products, Inc. has a fifty-two week low of $14.81 and a fifty-two week high of $28.58. The stock has a 50-day simple moving average of $25.81 and a 200-day simple moving average of $24.01.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. During the same period in the previous year, the company earned $0.13 earnings per share. Equities research analysts expect that Mueller Water Products, Inc. will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were paid a dividend of $0.067 per share. This represents a $0.27 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, February 10th. Mueller Water Products’s dividend payout ratio is currently 30.23%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MWA shares. The Goldman Sachs Group upped their price objective on Mueller Water Products from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.80.

About Mueller Water Products

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.