State Street Corp Sells 28,323 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

State Street Corp cut its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,743,894 shares of the company’s stock after selling 28,323 shares during the quarter. State Street Corp owned 2.31% of Select Water Solutions worth $30,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Select Water Solutions by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 913,138 shares of the company’s stock worth $9,771,000 after buying an additional 79,074 shares in the last quarter. Legato Capital Management LLC grew its holdings in shares of Select Water Solutions by 17.3% during the 2nd quarter. Legato Capital Management LLC now owns 82,705 shares of the company’s stock worth $885,000 after purchasing an additional 12,208 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Select Water Solutions in the second quarter worth $34,000. Ritholtz Wealth Management acquired a new position in Select Water Solutions in the second quarter valued at about $274,000. Finally, Rhumbline Advisers lifted its position in Select Water Solutions by 2.9% during the second quarter. Rhumbline Advisers now owns 183,854 shares of the company’s stock worth $1,967,000 after purchasing an additional 5,212 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Trading Up 0.6 %

Shares of Select Water Solutions stock opened at $12.52 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. Select Water Solutions, Inc. has a 12-month low of $6.99 and a 12-month high of $15.14. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 21.22 and a beta of 1.76. The firm’s 50-day moving average price is $12.99 and its two-hundred day moving average price is $11.63.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $352.98 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts forecast that Select Water Solutions, Inc. will post 0.4 earnings per share for the current fiscal year.

Select Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.07 dividend. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.24%. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

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.