Millennium Management LLC Takes $2.28 Million Position in Select Water Solutions, Inc. (NYSE:WTTR)

Millennium Management LLC bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 171,988 shares of the company's stock, valued at approximately $2,277,000. Millennium Management LLC owned approximately 0.14% of Select Water Solutions as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in shares of Select Water Solutions by 21.9% in the 4th quarter. First Trust Advisors LP now owns 6,828,596 shares of the company's stock worth $90,411,000 after buying an additional 1,226,061 shares during the last quarter. American Century Companies Inc. grew its position in Select Water Solutions by 12.6% in the fourth quarter. American Century Companies Inc. now owns 3,174,675 shares of the company's stock worth $42,033,000 after acquiring an additional 355,271 shares in the last quarter. Webs Creek Capital Management LP increased its stake in Select Water Solutions by 5.4% in the fourth quarter. Webs Creek Capital Management LP now owns 2,354,742 shares of the company's stock valued at $31,177,000 after acquiring an additional 120,966 shares during the last quarter. Boston Partners increased its stake in Select Water Solutions by 4.3% in the fourth quarter. Boston Partners now owns 2,000,352 shares of the company's stock valued at $26,647,000 after acquiring an additional 81,746 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Select Water Solutions by 27.4% during the fourth quarter. Van ECK Associates Corp now owns 1,998,193 shares of the company's stock valued at $26,456,000 after purchasing an additional 430,363 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Trading Up 3.9%

Shares of WTTR stock traded up $0.32 on Tuesday, hitting $8.52. 1,242,625 shares of the company's stock traded hands, compared to its average volume of 1,080,957. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 28.40 and a beta of 1.28. The company's fifty day simple moving average is $8.60 and its 200 day simple moving average is $11.36. Select Water Solutions, Inc. has a one year low of $7.20 and a one year high of $15.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The company's revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Equities analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.29%. The ex-dividend date was Tuesday, May 6th. Select Water Solutions's dividend payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James cut 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. Citigroup dropped their target price on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th.

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.