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

Van ECK Associates Corp reduced its position in Select Water Solutions, Inc. (NYSE:WTTR) by 28.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,567,830 shares of the company’s stock after selling 608,386 shares during the quarter. Van ECK Associates Corp owned 1.32% of Select Water Solutions worth $16,917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Select Water Solutions by 57.3% during the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock worth $32,000 after acquiring an additional 1,096 shares during the period. Innealta Capital LLC purchased a new position in shares of Select Water Solutions during the second quarter worth approximately $34,000. CWM LLC boosted its stake in shares of Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after purchasing an additional 1,496 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Select Water Solutions by 13.8% during the third 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 in the last quarter. Finally, Creative Planning bought a new position in shares of Select Water Solutions during the third quarter valued at approximately $112,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Trading Up 6.0 %

Shares of Select Water Solutions stock opened at $11.13 on Wednesday. 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 firm has a fifty day moving average price of $11.03 and a 200 day moving average price of $10.68. Select Water Solutions, Inc. has a 1 year low of $6.99 and a 1 year high of $12.27. The stock has a market cap of $1.32 billion, a PE ratio of 19.19 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR) last issued its 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 3.91% and a return on equity of 6.56%. The firm had revenue of $371.35 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts predict that Select Water Solutions, Inc. will post 0.47 earnings per share for the current year.

Select Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is 48.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in 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 upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd.

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.