Manatuck Hill Partners LLC Lowers Stake in Tetra Technologies, Inc. $TTI

Manatuck Hill Partners LLC decreased its position in Tetra Technologies, Inc. (NYSE:TTI) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 946,087 shares of the oil and gas company’s stock after selling 100,000 shares during the quarter. Tetra Technologies makes up 3.1% of Manatuck Hill Partners LLC’s portfolio, making the stock its 7th biggest holding. Manatuck Hill Partners LLC owned 0.71% of Tetra Technologies worth $8,865,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TTI. Vanguard Group Inc. raised its stake in shares of Tetra Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after buying an additional 174,028 shares during the period. Rubric Capital Management LP bought a new position in shares of Tetra Technologies in the third quarter worth about $26,046,000. Dimensional Fund Advisors LP raised its stake in shares of Tetra Technologies by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after buying an additional 72,338 shares during the period. State Street Corp raised its stake in shares of Tetra Technologies by 11.2% in the fourth quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock worth $32,541,000 after buying an additional 350,051 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Tetra Technologies by 13.8% during the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock worth $19,642,000 after purchasing an additional 414,076 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.

Tetra Technologies Price Performance

Shares of TTI stock opened at $10.18 on Thursday. Tetra Technologies, Inc. has a 52-week low of $3.17 and a 52-week high of $12.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The firm has a market capitalization of $1.35 billion, a P/E ratio of 203.68 and a beta of 1.22. The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $9.71.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. As a group, sell-side analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tetra Technologies has an average rating of “Moderate Buy” and an average price target of $10.25.

Insiders Place Their Bets

In other news, VP Kurt Hallead bought 22,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president directly owned 170,764 shares in the company, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.27% of the stock is currently owned by company insiders.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.