Cubist Systematic Strategies LLC Sells 55,955 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Cubist Systematic Strategies LLC lessened its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA) by 68.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,158 shares of the industrial products company’s stock after selling 55,955 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Mueller Water Products were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MWA. Amundi Pioneer Asset Management Inc. increased its stake in Mueller Water Products by 69.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,175,379 shares of the industrial products company’s stock valued at $21,840,000 after purchasing an additional 888,715 shares in the last quarter. Royal Bank of Canada increased its stake in Mueller Water Products by 18.5% during the 1st quarter. Royal Bank of Canada now owns 57,437 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 8,963 shares in the last quarter. Jane Street Group LLC bought a new stake in Mueller Water Products during the 1st quarter valued at $433,000. Paloma Partners Management Co bought a new stake in Mueller Water Products during the 1st quarter valued at $271,000. Finally, Virtu Financial LLC bought a new stake in Mueller Water Products during the 1st quarter valued at $168,000. Institutional investors and hedge funds own 89.19% of the company’s stock.

In other Mueller Water Products news, CFO Marietta Edmunds Zakas sold 25,260 shares of the company’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $16.66, for a total transaction of $420,831.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shirley C. Franklin sold 5,112 shares of the company’s stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $15.28, for a total transaction of $78,111.36. The disclosure for this sale can be found here. Insiders sold a total of 40,595 shares of company stock worth $667,878 over the last three months. 1.50% of the stock is owned by insiders.

MWA has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Mueller Water Products from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, August 6th. Zacks Investment Research lowered shares of Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Wednesday, November 17th. Boenning Scattergood lowered shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 9th. Finally, Oppenheimer lowered shares of Mueller Water Products from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 10th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.60.

Shares of NYSE:MWA opened at $14.42 on Thursday. The business has a 50-day moving average of $15.62. The company has a quick ratio of 2.41, a current ratio of 3.35 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.29 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.87 and a beta of 1.34. Mueller Water Products, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $17.37.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Monday, November 8th. The industrial products company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.07). The company had revenue of $295.60 million during the quarter, compared to analysts’ expectations of $296.21 million. Mueller Water Products had a return on equity of 13.28% and a net margin of 6.34%. Mueller Water Products’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. As a group, analysts predict that Mueller Water Products, Inc. will post 0.65 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 22nd. Investors of record on Wednesday, November 10th were issued a $0.058 dividend. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.06. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Tuesday, November 9th. Mueller Water Products’s payout ratio is 51.11%.

About Mueller Water Products

Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution and measurement of water. It operates though the following segments: Infrastructure, and Technologies. The Infrastructure segment involves in the manufacture of valves for water and gas systems including butterfly, iron gate, tapping, check, knife, plug and ball valves, and dry-barrel and wet-barrel fire hydrants.

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

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