Sun Sep 15 09:44:51 UTC 2024: ## Arizona State Retirement System Boosts Stake in Mueller Water Products

**Phoenix, AZ** – The Arizona State Retirement System increased its holdings in Mueller Water Products, Inc. (NYSE:MWA) by 1.9% during the second quarter, according to the fund’s recent Form 13F filing with the Securities and Exchange Commission. The fund now owns 43,722 shares of the industrial products company, valued at $783,000.

This move reflects a positive outlook on the company’s future, particularly as other hedge funds have also been making changes to their positions in MWA. Victory Capital Management Inc. significantly boosted its stake by 399.0% during the second quarter, while Norges Bank acquired a new position in the fourth quarter worth approximately $14.64 million.

Mueller Water Products has been performing well, recently surpassing analysts’ earnings estimates for the second quarter. The company reported $0.32 earnings per share (EPS), beating the consensus estimate of $0.22 by $0.10. Revenue also exceeded expectations, reaching $356.70 million compared to analysts’ estimate of $329.67 million.

While several directors have recently sold shares, insiders collectively hold 1.40% of the company’s stock. This insider activity may be attributed to individual financial decisions rather than a lack of confidence in the company’s future.

Mueller Water Products manufactures and markets products and services for the water transmission, distribution, and measurement industries, catering to municipalities and the construction industry both domestically and internationally.

With strong financial performance and increasing institutional interest, Mueller Water Products appears to be well-positioned for continued growth in the water infrastructure sector.

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