Watts Water Technologies, Inc. (NYSE:WTS) to Issue $0.52 Monthly Dividend

Watts Water Technologies, Inc. (NYSE:WTS) announced a monthly dividend on Monday, February 9th. Investors of record on Friday, February 27th will be paid a dividend of 0.52 per share by the technology company on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 27th.

Watts Water Technologies has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Watts Water Technologies has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Watts Water Technologies to earn $9.80 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 21.2%.

Watts Water Technologies Trading Down 0.3%

NYSE WTS opened at $318.29 on Tuesday. Watts Water Technologies has a 52 week low of $177.59 and a 52 week high of $321.87. The company has a 50 day moving average price of $287.99 and a 200 day moving average price of $279.20. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.61 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24.

Insider Buying and Selling

In other news, major shareholder Timothy P. Horne sold 6,994 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total value of $1,948,878.10. Following the transaction, the insider owned 23,006 shares in the company, valued at $6,410,621.90. This trade represents a 23.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Virginia A. Halloran sold 605 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the sale, the chief accounting officer owned 13,412 shares of the company’s stock, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,605 shares of company stock valued at $4,296,387 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WTS. MTM Investment Management LLC acquired a new position in Watts Water Technologies during the second quarter worth $25,000. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the 3rd quarter valued at about $26,000. Clearstead Advisors LLC boosted its position in shares of Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Watts Water Technologies in the third quarter valued at about $29,000. Finally, Cullen Frost Bankers Inc. increased its position in Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.