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Watts Water Technologies (WTS -2.1%) shares slip after the company lowers its Q1 forecast,...

Watts Water Technologies (WTS -2.1%) shares slip after the company lowers its Q1 forecast, citing lower gross margins caused by higher material costs and manufacturing inefficiencies. WTS, which makes valves that control water flow, filtration systems and drainage devices, says it expects EPS of $0.40-$0.43 on sales of $364M, below previous estimates.
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