Eagle Asset Management Inc. Invests $10.83 Million in Aris Water Solutions, Inc. (NYSE:ARIS)

Eagle Asset Management Inc. acquired a new stake in shares of Aris Water Solutions, Inc. (NYSE:ARIS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 641,848 shares of the company’s stock, valued at approximately $10,828,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Aris Water Solutions during the 2nd quarter valued at $554,000. American Century Companies Inc. boosted its position in Aris Water Solutions by 140.3% during the second quarter. American Century Companies Inc. now owns 487,840 shares of the company’s stock valued at $7,644,000 after purchasing an additional 284,788 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Aris Water Solutions in the third quarter valued at about $2,080,000. Exchange Traded Concepts LLC increased its position in Aris Water Solutions by 988.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 137,951 shares of the company’s stock worth $2,327,000 after purchasing an additional 125,281 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Aris Water Solutions during the 2nd quarter worth about $765,000. Institutional investors and hedge funds own 39.71% of the company’s stock.

Insider Activity at Aris Water Solutions

In related news, Director Debra Coy sold 1,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.39, for a total transaction of $38,085.00. Following the completion of the transaction, the director now directly owns 42,082 shares in the company, valued at $1,068,461.98. This represents a 3.44 % decrease in their position. The transaction 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 corporate insiders.

Aris Water Solutions Stock Down 1.6 %

Aris Water Solutions stock opened at $26.99 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. Aris Water Solutions, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $27.58. The firm has a fifty day moving average price of $18.83 and a two-hundred day moving average price of $16.81. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 33.74 and a beta of 1.62.

Aris Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.42 annualized dividend and a dividend yield of 1.56%. Aris Water Solutions’s dividend payout ratio is presently 52.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARIS. JPMorgan Chase & Co. downgraded Aris Water Solutions from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $19.00 to $22.00 in a report on Wednesday, November 6th. Stifel Nicolaus increased their price target on shares of Aris Water Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of Aris Water Solutions from $20.00 to $25.00 and gave the company an “outperform” rating 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. Finally, The Goldman Sachs Group raised their target price on Aris Water Solutions from $18.50 to $21.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Aris Water Solutions Company 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.