Eagle Asset Management Inc. purchased a new stake in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 641,848 shares of the company's stock, valued at approximately $10,828,000. Eagle Asset Management Inc. owned 1.10% of Aris Water Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of ARIS. Point72 Asia Singapore Pte. Ltd. bought a new stake in Aris Water Solutions during the second quarter valued at about $27,000. Meeder Asset Management Inc. bought a new position in shares of Aris Water Solutions during the 3rd quarter worth approximately $39,000. New York State Teachers Retirement System lifted its position in Aris Water Solutions by 2,346.0% during the third quarter. New York State Teachers Retirement System now owns 2,446 shares of the company's stock valued at $41,000 after acquiring an additional 2,346 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Aris Water Solutions in the second quarter valued at approximately $46,000. Finally, Point72 Asset Management L.P. acquired a new stake in Aris Water Solutions in the second quarter valued at approximately $82,000. Institutional investors own 39.71% of the company's stock.
Aris Water Solutions Stock Performance
Shares of NYSE:ARIS traded down $0.44 during midday trading on Friday, reaching $26.99. The company's stock had a trading volume of 568,704 shares, compared to its average volume of 577,002. Aris Water Solutions, Inc. has a twelve month low of $7.22 and a twelve month high of $27.58. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.57 billion, a PE ratio of 33.74 and a beta of 1.62. The stock has a fifty day moving average of $18.83 and a 200 day moving average of $16.81.
Aris Water Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.105 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.42 annualized dividend and a yield of 1.56%. Aris Water Solutions's dividend payout ratio is presently 52.50%.
Wall Street Analysts Forecast Growth
ARIS has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on Aris Water Solutions from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered Aris Water Solutions from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $19.00 to $22.00 in a research note on Wednesday, November 6th. US Capital Advisors raised shares of Aris Water Solutions from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Evercore ISI boosted their target price on shares of Aris Water Solutions from $20.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Aris Water Solutions from $18.50 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.
Read Our Latest Research Report on ARIS
Insider Activity at Aris Water Solutions
In other news, Director Debra Coy sold 1,500 shares of Aris Water Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.39, for a total value of $38,085.00. Following the sale, the director now owns 42,082 shares in the company, valued at $1,068,461.98. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.06% of the stock is owned by company insiders.
About Aris Water Solutions
(
Free Report)
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.
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