Bank of New York Mellon Corp Sells 118,284 Shares of Aris Water Solutions, Inc. (NYSE:ARIS)

Bank of New York Mellon Corp lessened its holdings in shares of Aris Water Solutions, Inc. (NYSE:ARIS) by 41.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 166,195 shares of the company’s stock after selling 118,284 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of Aris Water Solutions worth $3,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARIS. Principal Financial Group Inc. bought a new stake in Aris Water Solutions in the 3rd quarter valued at $514,000. Meeder Asset Management Inc. purchased a new position in shares of Aris Water Solutions during the third quarter valued at about $39,000. Advisors Asset Management Inc. increased its holdings in shares of Aris Water Solutions by 53.0% in the third quarter. Advisors Asset Management Inc. now owns 21,026 shares of the company’s stock worth $355,000 after purchasing an additional 7,281 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Aris Water Solutions in the third quarter worth about $10,828,000. Finally, Martingale Asset Management L P lifted its position in shares of Aris Water Solutions by 81.0% in the third quarter. Martingale Asset Management L P now owns 60,582 shares of the company’s stock worth $1,022,000 after buying an additional 27,109 shares in the last quarter. Institutional investors own 39.71% of the company’s stock.

Aris Water Solutions Stock Performance

Shares of NYSE:ARIS opened at $29.44 on Wednesday. The firm’s 50 day simple moving average is $27.87 and its 200-day simple moving average is $23.27. 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 one year low of $12.44 and a one year high of $32.56. The firm has a market cap of $1.72 billion, a PE ratio of 36.80 and a beta of 1.88.

Aris Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. Aris Water Solutions’s dividend payout ratio (DPR) is 70.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on ARIS. Citigroup reissued a “neutral” rating and issued a $26.00 target price (up from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective 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 cut shares of Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price objective on Aris Water Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Aris Water Solutions presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Insider Activity

In other news, CFO Stephan E. Tompsett sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer now owns 140,509 shares of the company’s stock, valued at $4,215,270. This trade represents a 12.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder S Corp Gable sold 160,539 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $25.18, for a total value of $4,042,372.02. Following the transaction, the insider now owns 2,951,199 shares in the company, valued at approximately $74,311,190.82. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 910,142 shares of company stock worth $23,277,332. 23.06% of the stock is currently owned by company 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.