Bank of New York Mellon Corp Lowers Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Bank of New York Mellon Corp lowered its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 673,467 shares of the company's stock after selling 184,832 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Select Water Solutions worth $8,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in Select Water Solutions during the 3rd quarter valued at about $483,000. Entropy Technologies LP purchased a new stake in shares of Select Water Solutions in the 3rd quarter valued at approximately $140,000. GSA Capital Partners LLP purchased a new stake in shares of Select Water Solutions in the 3rd quarter valued at approximately $220,000. Victory Capital Management Inc. grew its stake in shares of Select Water Solutions by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,818,016 shares of the company's stock valued at $42,495,000 after buying an additional 47,511 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of Select Water Solutions by 1.9% in the 3rd quarter. Royce & Associates LP now owns 1,682,413 shares of the company's stock worth $18,725,000 after acquiring an additional 31,192 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.

Insider Activity

In related news, CEO John Schmitz sold 26,550 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total value of $349,398.00. Following the transaction, the chief executive officer now directly owns 2,898,578 shares of the company's stock, valued at $38,145,286.48. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.40% of the company's stock.

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Select Water Solutions Stock Up 0.3 %

Select Water Solutions stock traded up $0.03 during mid-day trading on Tuesday, reaching $9.68. 1,969,749 shares of the company's stock were exchanged, compared to its average volume of 960,013. The company has a market cap of $1.15 billion, a P/E ratio of 32.25 and a beta of 1.77. Select Water Solutions, Inc. has a twelve month low of $8.60 and a twelve month high of $15.14. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $12.47 and a 200-day moving average of $12.40.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.14). The business had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.89%. Select Water Solutions's payout ratio is 93.33%.

Analysts Set New Price Targets

Separately, Citigroup upped their price objective on shares of Select Water Solutions from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, January 10th.

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.