Penn Mutual Asset Management Buys 11,000 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Penn Mutual Asset Management lifted its position in Select Water Solutions, Inc. (NYSE:WTTR) by 43.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 36,100 shares of the company’s stock after buying an additional 11,000 shares during the period. Penn Mutual Asset Management’s holdings in Select Water Solutions were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake 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 buying an additional 1,096 shares during the last quarter. Innealta Capital LLC acquired a new stake in Select Water Solutions during the 2nd quarter valued at $34,000. CWM LLC lifted its position in Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $45,000 after acquiring an additional 1,496 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Select Water Solutions by 13.8% in the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock valued at $93,000 after purchasing an additional 1,010 shares during the period. Finally, Northwest & Ethical Investments L.P. bought a new position in Select Water Solutions during the third quarter worth about $107,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

Select Water Solutions Trading Down 0.7 %

NYSE WTTR opened at $14.89 on Wednesday. Select Water Solutions, Inc. has a one year low of $6.99 and a one year high of $15.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. The business has a 50 day simple moving average of $12.31 and a 200 day simple moving average of $11.36. The stock has a market capitalization of $1.78 billion, a P/E ratio of 25.24 and a beta of 1.76.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The business had revenue of $371.35 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same period last year, the company posted $0.14 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.88%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. Select Water Solutions’s dividend payout ratio is presently 47.46%.

Select Water Solutions Profile

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.