Pier 88 Investment Partners LLC Makes New Investment in Select Water Solutions, Inc. (NYSE:WTTR)

Pier 88 Investment Partners LLC purchased a new stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 46,470 shares of the company's stock, valued at approximately $615,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its stake in Select Water Solutions by 22.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 280,946 shares of the company's stock worth $3,720,000 after buying an additional 51,490 shares during the period. Schroder Investment Management Group bought a new stake in shares of Select Water Solutions in the 4th quarter worth about $1,664,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Select Water Solutions by 254.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 524,354 shares of the company's stock worth $6,942,000 after purchasing an additional 376,218 shares during the period. BCO Wealth Management LLC bought a new position in Select Water Solutions during the 4th quarter valued at about $351,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Select Water Solutions in the 4th quarter worth about $5,346,000. Hedge funds and other institutional investors own 81.73% of the company's stock.

Select Water Solutions Stock Down 8.2 %

Select Water Solutions stock traded down $0.78 during midday trading on Friday, hitting $8.75. 818,675 shares of the company's stock were exchanged, compared to its average volume of 1,059,977. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The company has a market cap of $1.04 billion, a PE ratio of 29.06 and a beta of 1.51. The firm has a 50-day moving average of $11.56 and a two-hundred day moving average of $12.34. Select Water Solutions, Inc. has a 12 month low of $8.51 and a 12 month high of $15.14.

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

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 annualized dividend and a yield of 3.20%. Select Water Solutions's dividend payout ratio (DPR) is 93.33%.

Insider Buying and Selling

In other Select Water Solutions news, CEO John Schmitz sold 73,450 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the transaction, the chief executive officer now owns 2,825,128 shares in the company, valued at approximately $36,811,417.84. This represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.