Watts Water Technologies (WTS) is a $1.8B (market cap) maker of safety and flow control products used in water safety and conservation efforts across North America, Europe, and China. The firm makes water quality products ranging from backflow preventers to check valves which prevent reverse flow in water lines, as well as water filtration products, water drainage products, temperature and relief valves for water heaters, and fire protection/suppression systems.
Most of WTS' products are either used in by OEMs (like water heater manufacturers), or are used by contractors and are bought via wholesale distributors and do-it-yourself chain stores. As a result, the company can be looked at as an indirect bet on the resurgent US housing market with...
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