Mesirow Financial Investment Management Inc. Sells 7,466 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

Mesirow Financial Investment Management Inc. decreased its position in Select Water Solutions, Inc. (NYSE:WTTR) by 23.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,728 shares of the company’s stock after selling 7,466 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Select Water Solutions were worth $228,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System bought a new position in shares of Select Water Solutions in the fourth quarter worth about $54,000. Mackenzie Financial Corp increased its stake in shares of Select Water Solutions by 15.2% in the 4th quarter. Mackenzie Financial Corp now owns 14,931 shares of the company’s stock valued at $113,000 after buying an additional 1,973 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Select Water Solutions during the fourth quarter worth $156,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Select Water Solutions during the third quarter valued at $179,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Select Water Solutions in the fourth quarter valued at about $198,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WTTR shares. Citigroup raised shares of Select Water Solutions from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Thursday, May 9th. Northland Securities began coverage on shares of Select Water Solutions in a research report on Monday, April 22nd. They set a “market perform” rating and a $11.50 target price for the company.

Insider Activity at Select Water Solutions

In related news, COO Michael Skarke sold 13,421 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $9.78, for a total transaction of $131,257.38. Following the completion of the transaction, the chief operating officer now owns 380,981 shares in the company, valued at $3,725,994.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is owned by insiders.

Select Water Solutions Trading Up 1.1 %

WTTR traded up $0.12 during midday trading on Wednesday, reaching $10.58. 409,275 shares of the company were exchanged, compared to its average volume of 1,143,489. The stock has a market capitalization of $1.26 billion, a P/E ratio of 16.09 and a beta of 1.69. Select Water Solutions, Inc. has a one year low of $6.78 and a one year high of $10.99. The stock’s 50-day simple moving average is $10.13 and its 200 day simple moving average is $8.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.76 and a current ratio of 1.94.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). Select Water Solutions had a return on equity of 7.46% and a net margin of 4.28%. The firm had revenue of $366.60 million for the quarter, compared to the consensus estimate of $369.29 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue was down 12.0% compared to the same quarter last year. As a group, analysts forecast that Select Water Solutions, Inc. will post 0.53 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.24 annualized dividend and a yield of 2.27%. Select Water Solutions’s dividend payout ratio (DPR) is currently 36.92%.

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.