M&T Bank Corp Purchases Shares of 23,254 Select Water Solutions, Inc. (NYSE:WTTR)

M&T Bank Corp purchased a new stake in Select Water Solutions, Inc. (NYSE:WTTR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,254 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WTTR. Tower Research Capital LLC TRC grew its holdings 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 worth $36,000 after purchasing an additional 1,525 shares during the last quarter. Amundi grew its holdings in shares of Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after purchasing an additional 4,109 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Select Water Solutions in the 1st quarter worth about $123,000. Summit Investment Advisors Inc. grew its holdings in shares of Select Water Solutions by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock worth $126,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Select Water Solutions in the 4th quarter worth about $134,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

Select Water Solutions stock opened at $9.45 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Select Water Solutions, Inc. has a 1 year low of $7.20 and a 1 year high of $15.14. The company has a market cap of $1.14 billion, a PE ratio of 27.79 and a beta of 1.20. The company’s 50-day moving average is $8.85 and its two-hundred day moving average is $10.27.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $374.38 million for the quarter, compared to the consensus estimate of $360.78 million. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. Select Water Solutions’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.04 EPS. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.28 annualized dividend and a yield of 2.96%. Select Water Solutions’s dividend payout ratio (DPR) is currently 82.35%.

Analyst Ratings Changes

Several research firms have recently weighed in on WTTR. Citigroup lowered their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Raymond James Financial lowered their target price on shares of Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Friday, May 9th. Finally, Piper Sandler assumed coverage on shares of Select Water Solutions in a report on Tuesday. They set an “overweight” rating and a $15.00 price objective on the stock. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.88.

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.