Hotchkis & Wiley Capital Management LLC Acquires 172,600 Shares of 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 raised its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Select Water Solutions by 128.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after acquiring an additional 1,525 shares in the last quarter. Cetera Investment Advisers bought a new stake in Select Water Solutions in the fourth quarter valued at $134,000. Apollon Wealth Management LLC acquired a new position in shares of Select Water Solutions during the first quarter valued at about $113,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Select Water Solutions during the fourth quarter valued at about $154,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Select Water Solutions during the 1st quarter worth about $123,000. Institutional investors and hedge funds own 81.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler initiated coverage on Select Water Solutions in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price for the company. Raymond James Financial decreased their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. Finally, Citigroup lowered their target price 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 investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $15.00.

Select Water Solutions Stock Up 0.9%

NYSE WTTR traded up $0.08 on Thursday, reaching $8.37. The company had a trading volume of 987,458 shares, compared to its average volume of 1,224,221. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The company's fifty day moving average is $8.95 and its 200 day moving average is $9.36. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14. The stock has a market capitalization of $1.01 billion, a P/E ratio of 26.99 and a beta of 1.26.

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

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.07 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 annualized dividend and a yield of 3.3%. Select Water Solutions's dividend payout ratio (DPR) is 90.32%.

Select Water Solutions 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.