Rutabaga Capital Managementma Lowers stake in Mueller Water Products (MWA)

Mueller Water Products (MWA) : Rutabaga Capital Managementma reduced its stake in Mueller Water Products by 27.13% during the most recent quarter end. The investment management company now holds a total of 2,067,203 shares of Mueller Water Products which is valued at $21.9 Million after selling 769,743 shares in Mueller Water Products , the firm said in a disclosure report filed with the SEC on May 13, 2016.Mueller Water Products makes up approximately 3.68% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in MWA in the latest quarter, The investment management firm added 55,866 additional shares and now holds a total of 10,477,500 shares of Mueller Water Products which is valued at $111.1 Million. Mueller Water Products makes up approx 0.01% of Vanguard Group Inc’s portfolio.Royce Associates Lp reduced its stake in MWA by selling 262,200 shares or 8.23% in the most recent quarter. The Hedge Fund company now holds 2,925,576 shares of MWA which is valued at $31 Million. Mueller Water Products makes up approx 0.20% of Royce Associates Lp’s portfolio.Impax Asset Management Ltd boosted its stake in MWA in the latest quarter, The investment management firm added 204,413 additional shares and now holds a total of 4,277,913 shares of Mueller Water Products which is valued at $45.3 Million. Mueller Water Products makes up approx 2.43% of Impax Asset Management Ltd’s portfolio. Formidable Asset Management sold out all of its stake in MWA during the most recent quarter. The investment firm sold 1,516 shares of MWA which is valued $16,070.

Mueller Water Products opened for trading at $11 and hit $11.125 on the upside on Wednesday, eventually ending the session at $11.09, with a gain of 1.28% or 0.14 points. The heightened volatility saw the trading volume jump to 13,35,024 shares. Company has a market cap of $1,792 M.

On the company’s financial health, Mueller Water Products reported $0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.09. The company had revenue of $283.60 million for the quarter, compared to analysts expectations of $291.91 million. The company’s revenue was down -2.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Mueller Water Products. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 12 from a previous price target of $11 .Company shares were Reiterated by Wedbush on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 12.50 from a previous price target of $12 .Mueller Water Products was Initiated by Northcoast to “Neutral” on Apr 19, 2016.

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. The Company operates through two segments: Mueller Co. and Anvil. The Company helps municipalities increase operational efficiencies improve customer service and prioritize capital spending. Mueller Co. manufactures valves for water and gas systems including iron gate butterfly tapping check plug and ball valves dry-barrel and wet-barrel fire hydrants and metering systems. The Company also manufactures fittings and couplings including cast iron fittings malleable iron fittings and unions grooved fittings threaded steel pipe coupling and nipples.

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