WealthTrust Axiom LLC Has $1,448,000 Stake in Tetra Technologies Inc. (TTI)
WealthTrust Axiom LLC increased its position in Tetra Technologies Inc. (NYSE:TTI) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 227,458 shares of the company’s stock after buying an additional 2,100 shares during the period. WealthTrust Axiom LLC owned 0.28% of Tetra Technologies worth $1,448,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Eqis Capital Management Inc. increased its stake in shares of Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock worth $108,000 after buying an additional 166 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Tetra Technologies by 0.5% in the first quarter. Arizona State Retirement System now owns 41,125 shares of the company’s stock worth $261,000 after buying an additional 200 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Tetra Technologies by 2.3% in the first quarter. Wellington Management Group LLP now owns 59,765 shares of the company’s stock worth $379,000 after buying an additional 1,322 shares in the last quarter. Menta Capital LLC increased its stake in shares of Tetra Technologies by 1.9% in the first quarter. Menta Capital LLC now owns 109,753 shares of the company’s stock worth $697,000 after buying an additional 2,000 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Tetra Technologies by 12.7% in the second quarter. Louisiana State Employees Retirement System now owns 40,000 shares of the company’s stock worth $255,000 after buying an additional 4,500 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tetra Technologies Inc. (NYSE:TTI) traded up 1.23% on Thursday, hitting $5.75. The stock had a trading volume of 757,593 shares. The firm has a 50 day moving average of $6.13 and a 200-day moving average of $6.16. The firm’s market capitalization is $533.05 million. Tetra Technologies Inc. has a 1-year low of $4.62 and a 1-year high of $9.44.
Tetra Technologies (NYSE:TTI) last released its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.03. The business had revenue of $175.66 million for the quarter, compared to analysts’ expectations of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The firm’s revenue was down 44.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Equities analysts predict that Tetra Technologies Inc. will post ($0.48) earnings per share for the current year.
A number of brokerages have recently commented on TTI. Zacks Investment Research cut Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Simmons reiterated an “overweight” rating and issued a $7.60 price target (up from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. Morgan Stanley began coverage on Tetra Technologies in a research note on Wednesday, August 10th. They issued an “overweight” rating and a $10.00 price target for the company. Wunderlich increased their price target on Tetra Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 16th. Finally, JPMorgan Chase & Co. set a $8.00 price target on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $8.26.
In related news, VP Peter J. Pintar sold 20,545 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $5.90, for a total value of $121,215.50. Following the transaction, the vice president now owns 324,179 shares of the company’s stock, valued at $1,912,656.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Keith L. Schilling sold 24,341 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total value of $155,052.17. Following the completion of the transaction, the vice president now directly owns 111,161 shares in the company, valued at approximately $708,095.57. The disclosure for this sale can be found here. 4.45% of the stock is owned by corporate insiders.
Tetra Technologies Company Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
Want to see what other hedge funds are holding TTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Technologies Inc. (NYSE:TTI).
Receive News & Ratings for Tetra Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.