Tetra Technologies Inc. (TTI) Position Maintained by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System continued to hold its stake in shares of Tetra Technologies Inc. (NYSE:TTI) during the second quarter, Holdings Channel reports. The firm owned 75,282 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Tetra Technologies worth $480,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Societe Generale bought a new stake in shares of Tetra Technologies during the second quarter worth approximately $103,000. SG Americas Securities LLC raised its stake in shares of Tetra Technologies by 27.8% in the second quarter. SG Americas Securities LLC now owns 16,182 shares of the company’s stock worth $103,000 after buying an additional 3,523 shares in the last quarter. Eqis Capital Management Inc. raised 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. BNP Paribas Arbitrage SA raised its stake in shares of Tetra Technologies by 127.6% in the second quarter. BNP Paribas Arbitrage SA now owns 27,797 shares of the company’s stock worth $177,000 after buying an additional 15,584 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its stake in shares of Tetra Technologies by 41.5% in the second quarter. Emerald Advisers Inc. PA now owns 37,725 shares of the company’s stock worth $240,000 after buying an additional 11,070 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
Tetra Technologies Inc. (NYSE:TTI) traded down 1.65% during midday trading on Friday, reaching $5.97. The company had a trading volume of 193,431 shares. Tetra Technologies Inc. has a 12-month low of $4.62 and a 12-month high of $9.44. The stock’s market capitalization is $553.45 million. The company has a 50-day moving average of $6.03 and a 200-day moving average of $6.13.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $175.66 million for the quarter, compared to analyst estimates of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The business’s quarterly revenue was down 44.5% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. On average, analysts predict that Tetra Technologies Inc. will post ($0.48) EPS for the current fiscal year.
A number of equities research analysts have commented on TTI shares. Morgan Stanley set a $10.00 price objective on shares of Tetra Technologies and gave the stock a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research raised shares of Tetra Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Loop Capital began coverage on shares of Tetra Technologies in a research note on Friday, September 30th. They issued a “buy” rating on the stock. Simmons reaffirmed an “overweight” rating and issued a $7.60 target price (up previously from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. Finally, Credit Suisse Group AG set a $8.00 target price on shares of Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Tetra Technologies presently has an average rating of “Buy” and a consensus target price of $8.26.
In other news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total value of $155,052.17. Following the sale, the vice president now directly owns 111,161 shares in the company, valued at approximately $708,095.57. The sale was disclosed in a filing with the SEC, which is available through this link. 4.45% of the stock is owned by 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.
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