Janney Montgomery Scott LLC lifted its position in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 233.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,898 shares of the company's stock after purchasing an additional 27,246 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Aris Water Solutions worth $1,246,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ARIS. Quarry LP bought a new stake in shares of Aris Water Solutions during the fourth quarter worth approximately $27,000. Larson Financial Group LLC acquired a new position in Aris Water Solutions in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Aris Water Solutions during the 4th quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aris Water Solutions during the 4th quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. increased its stake in Aris Water Solutions by 74.5% in the fourth quarter. Meeder Asset Management Inc. now owns 4,042 shares of the company's stock valued at $97,000 after acquiring an additional 1,726 shares during the last quarter. Institutional investors and hedge funds own 39.71% of the company's stock.
Aris Water Solutions Stock Performance
Shares of NYSE ARIS traded up $0.30 during midday trading on Wednesday, reaching $24.17. The company had a trading volume of 334,021 shares, compared to its average volume of 635,211. The stock has a market cap of $1.43 billion, a P/E ratio of 29.48 and a beta of 1.69. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63. Aris Water Solutions, Inc. has a 1 year low of $13.34 and a 1 year high of $33.95. The business's 50-day simple moving average is $24.13 and its 200 day simple moving average is $26.25.
Aris Water Solutions (NYSE:ARIS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.15%. The company had revenue of $120.49 million during the quarter, compared to analysts' expectations of $115.72 million. On average, analysts forecast that Aris Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.
Aris Water Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, June 5th. Aris Water Solutions's dividend payout ratio is presently 68.29%.
Wall Street Analyst Weigh In
ARIS has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup reaffirmed a "neutral" rating on shares of Aris Water Solutions in a report on Monday, May 12th. Wells Fargo & Company dropped their price objective on Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered Aris Water Solutions from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. 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 stock. Based on data from MarketBeat.com, Aris Water Solutions currently has an average rating of "Hold" and an average target price of $26.00.
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About Aris Water Solutions
(
Free Report)
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.
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