King Luther Capital Management Corp Cuts Stake in Select Water Solutions, Inc. (NYSE:WTTR)

King Luther Capital Management Corp lowered its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 55.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,000 shares of the company’s stock after selling 187,000 shares during the period. King Luther Capital Management Corp owned 0.13% of Select Water Solutions worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Select Water Solutions by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock valued at $32,000 after acquiring an additional 1,096 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Select Water Solutions in the second quarter worth about $34,000. CWM LLC boosted its stake in Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after buying an additional 1,496 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Select Water Solutions by 13.8% during the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock valued at $93,000 after buying an additional 1,010 shares in the last quarter. Finally, Creative Planning bought a new stake in Select Water Solutions in the 3rd quarter worth approximately $112,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Trading Up 0.8 %

Shares of WTTR stock opened at $14.69 on Friday. The company has a market cap of $1.75 billion, a PE ratio of 24.90 and a beta of 1.67. Select Water Solutions, Inc. has a 1 year low of $6.99 and a 1 year high of $14.87. The stock’s 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $11.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. Select Water Solutions’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts predict that Select Water Solutions, Inc. will post 0.4 earnings per share for the current year.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.91%. Select Water Solutions’s payout ratio is currently 47.46%.

Analyst Ratings Changes

A number of research firms have recently commented on WTTR. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.