Whittier Trust Co. Purchases 348,994 Shares of Aris Water Solutions, Inc. (NYSE:ARIS)

Whittier Trust Co. increased its position in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 70,079.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,492 shares of the company's stock after purchasing an additional 348,994 shares during the period. Whittier Trust Co. owned approximately 0.60% of Aris Water Solutions worth $8,370,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ARIS. Raymond James Financial Inc. bought a new stake in Aris Water Solutions during the 4th quarter worth approximately $29,663,000. State Street Corp boosted 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 valued at $11,173,000 after buying an additional 80,490 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Aris Water Solutions during the third quarter worth $10,828,000. Geode Capital Management LLC raised its position in Aris Water Solutions by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 619,349 shares of the company's stock valued at $10,450,000 after buying an additional 18,304 shares during the last quarter. Finally, Wasatch Advisors LP lifted its stake in Aris Water Solutions by 4.7% during the 3rd quarter. Wasatch Advisors LP now owns 523,533 shares of the company's stock valued at $8,832,000 after acquiring an additional 23,594 shares in the last quarter. Institutional investors and hedge funds own 39.71% of the company's stock.

Aris Water Solutions Stock Performance

Aris Water Solutions stock traded up $0.72 during trading on Tuesday, hitting $33.25. The stock had a trading volume of 1,063,739 shares, compared to its average volume of 508,412. The stock's 50 day moving average is $28.46 and its two-hundred day moving average is $23.71. Aris Water Solutions, Inc. has a 1 year low of $12.44 and a 1 year high of $33.34. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 41.56 and a beta of 1.88. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62.

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Aris Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.14 dividend. This is a boost from Aris Water Solutions's previous quarterly dividend of $0.11. This represents a $0.56 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, March 13th. Aris Water Solutions's payout ratio is currently 70.00%.

Insider Buying and Selling at Aris Water Solutions

In related news, insider S Corp Gable sold 31,410 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $25.04, for a total value of $786,506.40. Following the sale, the insider now owns 2,599,740 shares in the company, valued at approximately $65,097,489.60. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was 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 have sold a total of 1,749,603 shares of company stock valued at $46,934,960 over the last three months. 23.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARIS. Wells Fargo & Company upped their target price on shares of 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 shares of Aris Water Solutions from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Evercore ISI cut shares of Aris Water Solutions from an "outperform" rating to an "in-line" rating and lifted their target price for the stock from $25.00 to $27.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group upped their target price on Aris Water Solutions from $21.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Citigroup reissued a "neutral" rating and issued a $26.00 price objective (up previously from $18.00) on shares of Aris Water Solutions in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.00.

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.