Here is What Hedge Funds Think about Mueller Water Products, Inc. (MWA)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. Intriguingly, Peter Schliemann’s Rutabaga Capital Management got rid of the largest investment of the 700 funds tracked by Insider Monkey, totaling about $16.7 million in stock. Steve Cohen’s fund, Point72 Asset Management, also dropped its stock, about $1.7 million worth.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Mueller Water Products, Inc. (NYSE:MWA) but similarly valued. We will take a look at Artisan Partners Asset Management Inc (NYSE:APAM), Suburban Propane Partners LP (NYSE:SPH), United Natural Foods, Inc. (NASDAQ:UNFI), and YY Inc (ADR) (NASDAQ:YY). All of these stocks’ market caps resemble MWA’s market cap.

As you can see these stocks had an average of 16 funds with bullish positions and the average amount invested in these stocks was $194 million, versus $180 million in MWA’s case. YY Inc (ADR) (NASDAQ:YY) is the most popular stock in this table. On the other hand Suburban Propane Partners LP (NYSE:SPH) is the least popular one with only four funds holding shares. Mueller Water Products, Inc. (NYSE:MWA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard YY Inc (ADR) (NASDAQ:YY) might be a better candidate to consider taking a long position in.

Disclosure: none