Van ECK Associates Corp Trims Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Van ECK Associates Corp trimmed its stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 28.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,567,830 shares of the company's stock after selling 608,386 shares during the quarter. Van ECK Associates Corp owned approximately 1.32% of Select Water Solutions worth $16,917,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WTTR. New York State Teachers Retirement System boosted its position in shares of Select Water Solutions by 13.8% in the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company's stock worth $93,000 after buying an additional 1,010 shares during the period. GAMMA Investing LLC boosted its position in shares of Select Water Solutions by 57.3% in the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company's stock worth $32,000 after buying an additional 1,096 shares during the period. ProShare Advisors LLC boosted its position in shares of Select Water Solutions by 8.6% in the first quarter. ProShare Advisors LLC now owns 14,356 shares of the company's stock worth $133,000 after buying an additional 1,131 shares during the period. CWM LLC boosted its position in shares of Select Water Solutions by 55.2% in the second quarter. CWM LLC now owns 4,204 shares of the company's stock worth $45,000 after buying an additional 1,496 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Select Water Solutions by 15.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,993 shares of the company's stock valued at $213,000 after purchasing an additional 3,142 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Northland Securities raised Select Water Solutions from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $11.50 to $14.50 in a research report on Thursday, August 22nd. Northland Capmk raised Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 22nd.

Select Water Solutions Stock Up 25.5 %

WTTR stock traded up $2.84 during trading hours on Wednesday, reaching $13.97. 3,919,966 shares of the stock were exchanged, compared to its average volume of 1,032,685. The firm's 50-day moving average is $11.03 and its 200-day moving average is $10.68. Select Water Solutions, Inc. has a 12 month low of $6.99 and a 12 month high of $14.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.81 and a quick ratio of 1.63. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 21.64 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $371.35 million during the quarter, compared to the consensus estimate of $352.98 million. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. Select Water Solutions's revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. On average, equities research analysts expect that Select Water Solutions, Inc. will post 0.47 earnings per share for the current year.

Select Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Select Water Solutions's previous quarterly dividend of $0.06. Select Water Solutions's dividend payout ratio (DPR) is currently 41.38%.

Select Water Solutions Company 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.