Watts Water Technologies, Inc. (NYSE:WTS) increased its quarterly dividend by 6% to 18 cents per share, reflecting its commitment to enhance shareholder value. The raised dividend will be paid on Jun 16, 2016 to shareholders of record at the close of business on Jun 2. Watts Water’s shares gained 2% following the announcement on May 10.
The dividend hike will increase the company’s dividend yield from the current 1.23% to 1.28%. The move has positioned Watts Water ahead of its peers like Badger Meter Inc. (NYSE:BMI) , Woodward, Inc. (NASDAQ:WWD) and Allied Motion Technologies Inc. (NASDAQ:AMOT) with respective dividend yields of 1.08%, 0.81% and 0.44%.
Last year in May, the company had announced a 13% increase in its dividend, marking the third consecutive year of a double-digit dividend hike.
Watts Water reported first-quarter 2016 adjusted earnings of 57 cents per share, up 26.7% year over year. Reported earnings also surpassed the Zacks Consensus Estimate of 50 cents.
Watts Water had cash and cash equivalents of $259.4 million at the end of first-quarter 2016, compared with $296 million at 2015 end. As of the quarter end, Watts Water’s net debt was $338.8 million with a net debt-to-capitalization ratio of 31.7%.
Watts Water stands to gain from transformation initiatives in the Americas and EMEA. Further, the company will benefit from its European transformation program, acquisitions, growth in operational efficiencies and share repurchase initiatives. It has maintained its full-year 2016 outlook and expects organic sales growth in the low-single digits for the year. However, macroeconomic weakness, unfavorable foreign currency exchange rates and oil price volatility could weigh on Watts Water’s near-term results.
Watts Water currently carries a Zacks Rank #3 (Hold).
BADGER METER (BMI): Free Stock Analysis Report
WOODWARD INC (WWD): Free Stock Analysis Report
WATTS WATER TEC (WTS): Free Stock Analysis Report
ALLIED MOTN TEC (AMOT): Free Stock Analysis Report
Original post
Zacks Investment Research
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Watts Water (WTS) Announces 6% Dividend Hike, Stock Gains
Published 05/11/2016, 09:33 PM
Updated 07/09/2023, 06:31 AM
Watts Water (WTS) Announces 6% Dividend Hike, Stock Gains
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.