The Manufacturers Life Insurance Company Takes $229,000 Position in Aris Water Solutions, Inc. (NYSE:ARIS)

The Manufacturers Life Insurance Company acquired a new stake in Aris Water Solutions, Inc. (NYSE:ARIS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,552 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its position in Aris Water Solutions by 48.1% during the 4th quarter. SG Americas Securities LLC now owns 10,941 shares of the company’s stock worth $262,000 after acquiring an additional 3,554 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Aris Water Solutions during the 4th quarter worth approximately $279,000. Perigon Wealth Management LLC acquired a new position in Aris Water Solutions during the 4th quarter worth approximately $320,000. Legato Capital Management LLC lifted its position in Aris Water Solutions by 7.2% during the 4th quarter. Legato Capital Management LLC now owns 93,186 shares of the company’s stock worth $2,232,000 after acquiring an additional 6,259 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Aris Water Solutions by 10.4% during the 4th quarter. Principal Financial Group Inc. now owns 33,635 shares of the company’s stock worth $806,000 after acquiring an additional 3,179 shares in the last quarter. 39.71% of the stock is owned by institutional investors and hedge funds.

Aris Water Solutions Trading Down 1.4%

Shares of Aris Water Solutions stock opened at $22.99 on Monday. 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 cap of $1.34 billion, a price-to-earnings ratio of 28.73 and a beta of 1.85. The business has a fifty day simple moving average of $26.92 and a 200-day simple moving average of $26.44. Aris Water Solutions, Inc. has a fifty-two week low of $13.34 and a fifty-two week high of $33.95.

Aris Water Solutions (NYSE:ARIS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Aris Water Solutions had a return on equity of 3.74% and a net margin of 6.29%. The business had revenue of $120.49 million during the quarter, compared to analyst estimates of $115.72 million. On average, equities analysts forecast that Aris Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Aris Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, June 5th. Aris Water Solutions’s dividend payout ratio is 68.29%.

Insider Activity

In related news, insider Nicholas A. Patterson sold 8,299 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total transaction of $253,949.40. Following the transaction, the insider now directly owns 58,228 shares of the company’s stock, valued at approximately $1,781,776.80. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey K. Hunt sold 10,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $28.92, for a total value of $289,200.00. Following the transaction, the chief accounting officer now directly owns 44,827 shares in the company, valued at $1,296,396.84. The trade was a 18.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,070,604 shares of company stock valued at $29,817,145 over the last three months. Insiders own 37.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ARIS. The Goldman Sachs Group reduced their price target on Aris Water Solutions from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price target on Aris Water Solutions from $29.00 to $23.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. StockNews.com downgraded Aris Water Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. Finally, Citigroup reissued a “neutral” rating on shares of Aris Water Solutions in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.00.

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.