Martingale Asset Management L P Sells 31,778 Shares of Aris Water Solutions, Inc. (NYSE:ARIS)

Martingale Asset Management L P trimmed its stake in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 52.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,804 shares of the company's stock after selling 31,778 shares during the quarter. Martingale Asset Management L P's holdings in Aris Water Solutions were worth $690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Aris Water Solutions by 116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company's stock valued at $6,783,000 after buying an additional 216,158 shares in the last quarter. Barclays PLC increased its holdings in shares of Aris Water Solutions by 277.0% during the third quarter. Barclays PLC now owns 35,102 shares of the company's stock valued at $592,000 after acquiring an additional 25,790 shares in the last quarter. State Street Corp raised its position in shares of Aris Water Solutions by 13.8% during the third quarter. State Street Corp now owns 662,324 shares of the company's stock worth $11,173,000 after purchasing an additional 80,490 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Aris Water Solutions by 66.2% in the 3rd quarter. HighTower Advisors LLC now owns 21,341 shares of the company's stock worth $361,000 after purchasing an additional 8,499 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Aris Water Solutions in the 3rd quarter valued at $266,000. 39.71% of the stock is owned by institutional investors.

Aris Water Solutions Stock Performance

NYSE:ARIS traded up $0.31 during trading on Friday, reaching $25.87. The company's stock had a trading volume of 1,438,501 shares, compared to its average volume of 566,428. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 32.34 and a beta of 1.81. The firm has a 50 day moving average of $28.56 and a 200-day moving average of $25.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72. Aris Water Solutions, Inc. has a 12 month low of $13.24 and a 12 month high of $33.95.

Aris Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.16%. This is a boost from Aris Water Solutions's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, March 13th. Aris Water Solutions's payout ratio is presently 70.00%.

Insider Activity

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $30.60, for a total transaction of $253,949.40. Following the completion of the transaction, the insider now owns 58,228 shares in the company, valued at $1,781,776.80. This trade represents a 12.47 % 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. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.70, for a total transaction of $27,700,000.00. The disclosure for this sale can be found here. Insiders sold 1,070,604 shares of company stock valued at $29,817,145 in the last three months. Company insiders own 23.06% of the company's stock.

Analyst Upgrades and Downgrades

ARIS has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Aris Water Solutions from $26.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Evercore ISI downgraded Aris Water Solutions from an "outperform" rating to an "in-line" rating and increased their price objective for the stock from $25.00 to $27.00 in a research note on Wednesday, January 15th. The Goldman Sachs Group lifted their target price on Aris Water Solutions from $21.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. StockNews.com lowered Aris Water Solutions from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Finally, Citigroup reaffirmed a "neutral" rating and set a $26.00 price objective (up from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Aris Water Solutions currently has a consensus rating of "Hold" and an average target price of $27.00.

Aris Water Solutions Profile

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.