Ellington Management Group LLC Has $341,000 Stake in Mueller Water Products, Inc. (MWA)
Ellington Management Group LLC grew its stake in Mueller Water Products, Inc. (NYSE:MWA) by 34.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,200 shares of the industrial products company’s stock after acquiring an additional 7,000 shares during the quarter. Ellington Management Group LLC’s holdings in Mueller Water Products were worth $341,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. AMP Capital Investors Ltd purchased a new position in shares of Mueller Water Products in the 4th quarter valued at $128,000. Virtu Financial LLC purchased a new position in shares of Mueller Water Products in the 4th quarter valued at $129,000. Belpointe Asset Management LLC purchased a new position in shares of Mueller Water Products in the 3rd quarter valued at $131,000. Global X Management Co. LLC increased its holdings in shares of Mueller Water Products by 75.2% in the 4th quarter. Global X Management Co. LLC now owns 11,284 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 4,845 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of Mueller Water Products in the 3rd quarter valued at $158,000. Institutional investors and hedge funds own 86.94% of the company’s stock.
Mueller Water Products, Inc. (NYSE:MWA) opened at $11.52 on Friday. Mueller Water Products, Inc. has a one year low of $10.54 and a one year high of $12.99. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.68 and a current ratio of 6.19. The firm has a market capitalization of $1,808.21, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.37 and a beta of 1.21.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.74%. This is an increase from Mueller Water Products’s previous quarterly dividend of $0.04. The ex-dividend date was Thursday, February 8th. Mueller Water Products’s payout ratio is 18.87%.
MWA has been the topic of a number of analyst reports. Cowen downgraded Mueller Water Products from a “market perform” rating to an “underperform” rating and set a $11.00 price target on the stock. in a report on Friday, January 19th. Oppenheimer reiterated an “outperform” rating and issued a $15.00 price target on shares of Mueller Water Products in a report on Thursday, December 28th. They noted that the move was a valuation call. Boenning Scattergood downgraded Mueller Water Products from an “outperform” rating to a “neutral” rating in a report on Friday, February 2nd. Finally, Nomura dropped their target price on Mueller Water Products from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.71.
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About Mueller Water Products
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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