Watts Water Tech. (WTS) is Downgraded by Oppenheimer to Perform

Watts Water Tech. (WTS) is Downgraded by Oppenheimer to Perform , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Watts Water Technologies, Inc. has dropped 2.38% during the last 3-month period . Year-to-Date the stock performance stands at -20.77%.

Watts Water Technologies, Inc. (NYSE:WTS) has lost 2.8% during the past week and dropped 9.48% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 1.99%. Watts Water Technologies, Inc. (NYSE:WTS) has underperformed the index by 7.36% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of Watts Water Technologies, Inc. (NYSE:WTS) ended Thursday session in red amid volatile trading. The shares closed down 0.67 points or 1.33% at $49.67 with 115,305 shares getting traded. Post opening the session at $50.05, the shares hit an intraday low of $49.51 and an intraday high of $50.72 and the price vacillated in this range throughout the day. The company has a market cap of $1,714 million and the number of outstanding shares have been calculated to be 34,513,201 shares. The 52-week high of Watts Water Technologies, Inc. (NYSE:WTS) is $65.16 and the 52-week low is $48.09.

Currently the company Insiders own 1% of Watts Water Technologies, Inc. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -40.98% . Institutional Investors own 83.32% of Watts Water Technologies, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of 124.69%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange,The officer (President, Asia) of Watts Water Technologies Inc, Melhem Elie sold 1,200 shares at $53.7 on November 16, 2015. The Insider selling transaction had a total value worth of $64,440. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Watts Water Technologies, Inc. (Watts)is a supplier of products for use in the water quality, water safety, water flow control and water conservation markets in both North America and Europe with a presence in Asia. It operates in three geographic segments: North America, Europe and Asia. Watts has manufacturing facilities, such as Mexico, China, Bulgaria and Tunisia. Its products are sold to wholesale distributors and dealers, do-it-yourself (DIY) chains and original equipment manufacturers (OEMs). During the year ended December 31, 2012, it began classifying its many products into four universal product lines. These product lines are residential and commercial flow control products, heating, ventilation and air conditioning (HVAC) and gas products, drains and water re-use products and water quality products. On January 31, 2012, it completed the acquisition of tekmar Control Systems (tekmar). In December 2012, it sold its subsidiary Flomatic Corporation, to Boshart Industries Inc.