Bank of New York Mellon Corp Lowers Holdings in Aris Water Solutions, Inc. (NYSE:ARIS)

Bank of New York Mellon Corp reduced its stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,195 shares of the company's stock after selling 118,284 shares during the period. Bank of New York Mellon Corp owned 0.29% of Aris Water Solutions worth $3,980,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Aris Water Solutions in the 3rd quarter worth approximately $39,000. Tidal Investments LLC purchased a new position in Aris Water Solutions in the 3rd quarter worth approximately $252,000. SG Americas Securities LLC lifted its holdings in Aris Water Solutions by 48.1% in the 4th quarter. SG Americas Securities LLC now owns 10,941 shares of the company's stock worth $262,000 after purchasing an additional 3,554 shares in the last quarter. Franklin Resources Inc. purchased a new position in Aris Water Solutions in the 3rd quarter worth approximately $266,000. Finally, Janney Montgomery Scott LLC purchased a new position in Aris Water Solutions in the 4th quarter worth approximately $279,000. 39.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Stifel Nicolaus lifted their price objective on Aris Water Solutions from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on Aris Water Solutions from $26.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. US Capital Advisors downgraded Aris Water Solutions from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Finally, Evercore ISI downgraded Aris Water Solutions from an "outperform" rating to an "in-line" rating and lifted their price objective for the stock from $25.00 to $27.00 in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Aris Water Solutions presently has a consensus rating of "Hold" and a consensus price target of $27.00.

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Aris Water Solutions Trading Down 0.3 %

Shares of NYSE ARIS traded down $0.10 during trading hours on Friday, hitting $31.93. 1,194,917 shares of the company traded hands, compared to its average volume of 506,464. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 39.91 and a beta of 1.88. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62. The company's 50 day moving average price is $28.35 and its 200 day moving average price is $23.49. Aris Water Solutions, Inc. has a 12 month low of $12.44 and a 12 month high of $32.72.

Aris Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. This is an increase from Aris Water Solutions's previous quarterly dividend of $0.11. Aris Water Solutions's payout ratio is currently 70.00%.

Insider Activity

In other Aris Water Solutions news, CAO Jeffrey K. Hunt sold 10,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $28.92, for a total value of $289,200.00. Following the transaction, the chief accounting officer now owns 44,827 shares of the company's stock, valued at $1,296,396.84. This represents a 18.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas A. Patterson sold 8,299 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $30.60, for a total value of $253,949.40. Following the completion of the transaction, the insider now directly owns 58,228 shares in the company, valued at $1,781,776.80. This trade represents a 12.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,910,142 shares of company stock valued at $50,977,332. 23.06% of the stock is currently owned by insiders.

About Aris Water Solutions

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.