market folly

Larry Robbins' hedge fund Glenview Capital just filed a 13G with the SEC regarding Mueller Water Products (MWA) where they reveal a 6.35% ownership stake in the company with 9,945,383 shares.

This marks a 50% increase in their position size since the end of 2011. The disclosure was required due to trading activity on April 2nd. In other recent portfolio activity we also touched on Glenview's new stake in Tenet Healthcare.

Per Google Finance, Mueller Water Products is "manufacturer and marketer of products and services that are used in the transmission, distribution and measurement of drinking water and in water treatment facilities.

The Company’s product portfolio includes ductile iron pipe, water and gas valves, fire hydrants, water meter products and systems and a range of pipe fittings, couplings, hangers and nipples, which are used by municipalities, as well as the residential and non-residential construction industries, for heating, ventilation and air conditioning (HVAC), fire protection, industrial, energy and oil and gas applications."