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In a recent transaction, Brian Slobodow, a director at Mueller Water Products, Inc. (NYSE:MWA), sold 11,132 shares of the company’s common stock. The shares were sold at an average price of $24.73, resulting in a total transaction value of approximately $275,307. Following the sale, Slobodow retains ownership of 7,376 shares in the company. The transaction comes as the company, currently valued at $3.9 billion, has delivered an impressive 60% return over the past year. According to InvestingPro, Mueller Water Products maintains a strong financial health rating.
The shares were sold in multiple transactions, with prices ranging from $24.70 to $24.77. Slobodow remains a member of the board, continuing to play a role in the oversight of the company, which specializes in miscellaneous fabricated metal products. The company has consistently raised its dividend for 10 consecutive years, and InvestingPro analysis indicates the stock is currently trading near its Fair Value. Investors can access detailed valuation metrics and 10+ additional ProTips through InvestingPro’s comprehensive research report.
In other recent news, Mueller Water Products has announced its quarterly dividend set at $0.067 per share, payable to shareholders on record by February 10, 2025. This decision underscores the company’s ongoing commitment to returning value to its investors. Additionally, Mueller Water Products shareholders have approved several significant corporate proposals, including the election of nine directors and the ratification of Ernst & Young LLP as the independent auditors for fiscal 2025. The amendment and restatement of the 2006 Employee Stock Purchase Plan and the 2006 Stock Incentive Plan were also approved.
Furthermore, RBC Capital Markets highlighted Mueller Water Products as part of its ’Nice List,’ noting the company’s successful ramp-up of its new brass foundry, which has contributed to a 72% year-to-date increase in its stock. In other developments, the company’s CEO, Marietta Edmunds Zakas, has amended her employment terms, relinquishing certain severance benefits except in the event of a Change-in-Control. These changes, effective December 9, 2024, maintain her current compensation structure and include provisions for severance and other benefits. This information, sourced from SEC filings, provides a comprehensive view of the company’s recent activities and strategic decisions.
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