Director of Mueller Water Products, Inc. (NYSE:MWA), Brian C. Healy, has purchased shares of the company's common stock valued at approximately $50,817. The transaction was executed on May 15, with an average price of $19.1765 per share.
The recent purchase by Healy involved a total of 2,650 shares of Mueller Water Products, a company known for its range of water infrastructure and flow control products. According to the filing, the shares were acquired in multiple transactions at prices that ranged from $19.175 to $19.180, indicating a tight spread in the buying price.
Investors often keep an eye on insider transactions like these, as they can provide insights into the executives' confidence in the company's prospects. Healy's acquisition has increased his direct ownership in the company to the same number of shares, signaling a positive outlook on the company's value.
Mueller Water Products, headquartered in Atlanta, Georgia, operates within the fabricated metal products sector and is incorporated in Delaware. The company's shares are publicly traded and are a constituent of the NYSE.
For those interested in the specifics of the transaction, the company has expressed readiness to provide full details upon request regarding the number of shares purchased at each price within the range noted in the filing.
The stock purchase by a director like Healy is a noteworthy event for current and potential investors, as it reflects a commitment to the company's future by one of its key insiders.
InvestingPro Insights
As Director Brian C. Healy increases his stake in Mueller Water Products, Inc. (NYSE:MWA), investors might seek additional context to understand the company's financial health and market performance. Based on real-time data from InvestingPro, here are some key metrics:
- The company's market capitalization stands at approximately $2.99 billion.
- Mueller Water Products is currently trading at a P/E ratio of 29.58, with a more favorable forward P/E ratio (adjusted for the last twelve months as of Q2 2024) of 25.23.
- The stock has experienced a significant 6-month price total return of 46.29%, closely approaching its 52-week high at 98.71% of the peak price.
Turning to InvestingPro Tips, Mueller Water Products has demonstrated a commitment to shareholder returns, raising its dividend for 9 consecutive years, which is a testament to its financial stability and management's confidence in the company's profitability. Moreover, the company operates with a moderate level of debt, which is an important consideration for investors looking for sustainable investment opportunities.
For those seeking a deeper analysis, InvestingPro offers additional insights into Mueller Water Products, including more InvestingPro Tips to help inform investment decisions. In fact, there are 14 more InvestingPro Tips available, which can be accessed through the InvestingPro platform.
To explore these insights and tips, visit https://www.investing.com/pro/MWA and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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