Hotchkis & Wiley Capital Management LLC Raises Stake in Select Water Solutions, Inc. $WTTR

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Select Water Solutions by 28.7%, acquiring an additional 172,600 shares, which brought its total ownership to 773,530 shares valued at approximately $8.12 million.
• Despite reporting a quarterly earnings miss with $0.10 EPS against an expected $0.13, Select Water Solutions generated revenue of $364.22 million, surpassing estimates.
• The company recently announced a quarterly dividend of $0.07 per share, leading to an annualized dividend of $0.28 and a yield of 3.3%, with a payout ratio of 90.32%.

Hotchkis & Wiley Capital Management LLC increased its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 773,530 shares of the company's stock after buying an additional 172,600 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.65% of Select Water Solutions worth $8,122,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. bought a new stake in Select Water Solutions during the first quarter worth $123,000. Wealth Enhancement Advisory Services LLC bought a new stake in Select Water Solutions during the fourth quarter worth $154,000. GAMMA Investing LLC boosted its position in Select Water Solutions by 766.8% in the first quarter. GAMMA Investing LLC now owns 36,015 shares of the company's stock worth $378,000 after purchasing an additional 31,860 shares during the last quarter. New York State Common Retirement Fund boosted its position in Select Water Solutions by 57.6% in the first quarter. New York State Common Retirement Fund now owns 664,868 shares of the company's stock worth $6,981,000 after purchasing an additional 243,114 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in Select Water Solutions in the first quarter worth $244,000. Institutional investors own 81.73% of the company's stock.

Select Water Solutions Stock Performance

Shares of NYSE WTTR traded up $0.16 during trading on Friday, reaching $8.55. 1,262,418 shares of the stock traded hands, compared to its average volume of 1,029,821. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82. The company has a 50-day moving average of $8.92 and a 200-day moving average of $9.27. The stock has a market capitalization of $1.04 billion, a P/E ratio of 27.56 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The firm had revenue of $364.22 million for the quarter, compared to analysts' expectations of $362.93 million. During the same period in the prior year, the company earned $0.13 EPS. The firm's quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 5th. Select Water Solutions's dividend payout ratio is currently 90.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WTTR. Raymond James Financial cut their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 9th. Piper Sandler began coverage on Select Water Solutions in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price objective on the stock. Finally, Citigroup cut their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $15.00.

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.