In a recent transaction, Takeuchi Kenji, the Senior Vice President of Water Management Solutions at Mueller Water Products, Inc. (NYSE:MWA), sold 6,658 shares of the company's common stock. The total value of the shares sold amounted to approximately $127,069, with the sales conducted at an average price of $19.0852 per share. These transactions took place on May 16, 2024, and were executed in multiple parts, with individual share prices ranging from $19.080 to $19.105.
The sale was disclosed in a regulatory filing, which also noted that following these transactions, Kenji still owns 28,334.238 shares of Mueller Water Products. It is important to highlight that the shares sold were not the only holdings of Kenji in the company. According to the footnote in the filing, his remaining ownership includes 10,002.24 shares acquired under the company's Employee Stock Purchase Plan.
This move comes after Kenji's departure from the company, as indicated in a Current Report on Form 8-K filed with the Securities and Exchange Commission on February 14, 2024. Kenji left Mueller Water Products on April 15, 2024, as per the report.
Investors and shareholders of Mueller Water Products can request more detailed information about the sale from Takeuchi Kenji, including the number of shares sold at each specific price within the stated range.
Mueller Water Products, based in Atlanta, Georgia, operates within the miscellaneous fabricated metal products industry and specializes in manufacturing and marketing products and services used in the transmission, distribution, and measurement of water.
InvestingPro Insights
As Mueller Water Products, Inc. (NYSE:MWA) navigates the waters of the fabricated metal products industry, recent transactions by company insiders have captured the attention of investors. The sale of shares by Takeuchi Kenji, the company's Senior Vice President of Water Management Solutions, coincides with a period of notable stock performance for Mueller Water Products. Here are some key metrics and insights that may offer a broader context to the recent insider trading activity:
- The company has experienced a significant price uptick, with a 46.29% total return over the last six months and a 45.59% total return over the last year, indicating a robust upward trend in the company's stock price.
- With a dividend yield of 1.34% and a history of raising its dividend for 9 consecutive years, Mueller Water Products demonstrates a commitment to returning value to shareholders.
- The company is trading at a P/E ratio of 29.58 with an adjusted P/E ratio over the last twelve months as of Q2 2024 at 25.23, suggesting it may be valued attractively relative to its near-term earnings growth.
These metrics, paired with the fact that five analysts have revised their earnings upwards for the upcoming period, provide a glimpse into the company’s financial health and future prospects. For investors seeking further insights, there are additional InvestingPro Tips available that could help in making more informed decisions about Mueller Water Products. To explore these tips and gain a deeper understanding of the company's financials and stock performance, visit InvestingPro. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and uncover the full range of expert analysis and tips, including 13 additional insights available on InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.