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ATLANTA—Franklin Shirley C., a director at Mueller Water Products, Inc. (NYSE:MWA), recently sold a significant portion of the company’s stock amid the company’s impressive 64% surge over the past year. According to a filing with the Securities and Exchange Commission, Shirley sold 8,825 shares of common stock on February 24, 2025. The shares were sold at an average price of approximately $25.11, with prices ranging from $25.10 to $25.14, resulting in a total transaction value of $221,556. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with analysts setting price targets ranging from $25 to $33.
Following this transaction, Shirley retains ownership of 72,419 shares of Mueller Water Products. The company, headquartered in Atlanta, is known for its manufacturing of miscellaneous fabricated metal products. The company has maintained dividend payments for 20 consecutive years, with 10 straight years of dividend increases, demonstrating strong financial stability. InvestingPro subscribers can access 8 additional key insights about Mueller Water Products, along with comprehensive financial analysis in the Pro Research Report.
In other recent news, Mueller Water Products has announced a quarterly dividend of $0.067 per share for shareholders on record by February 10, 2025, with distribution set for February 21, 2025. Shareholders also approved several key corporate proposals at the company’s annual meeting, including the election of nine directors and the ratification of Ernst & Young LLP as the independent auditors for fiscal 2025. The company’s executive compensation strategy received strong backing, with over 118 million votes in favor. Additionally, there were amendments to the Employee Stock Purchase Plan and Stock Incentive Plan, securing over 127 million and 123 million votes for approval, respectively.
RBC Capital Markets highlighted Mueller Water Products in its report, noting the company’s stock performance and operational achievements in 2024, including the successful ramp-up of its new brass foundry. Furthermore, the company disclosed changes to CEO Marietta Edmunds Zakas’s employment agreement, focusing on severance benefits linked to a Change-in-Control. Zakas’s compensation remains unchanged, with an annual base salary of at least $900,000 and a target bonus of 110% of her salary. These developments have been filed with the SEC, ensuring transparency and providing investors with detailed insights into the company’s governance and strategic direction.
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