Bank of America Corp DE Has $3.43 Million Stock Position in Aris Water Solutions, Inc. (NYSE:ARIS)

Bank of America Corp DE lifted its holdings in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,331 shares of the company's stock after buying an additional 59,972 shares during the period. Bank of America Corp DE owned about 0.25% of Aris Water Solutions worth $3,433,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new position in Aris Water Solutions during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC bought a new stake in shares of Aris Water Solutions during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Aris Water Solutions in the 4th quarter valued at approximately $33,000. Meeder Asset Management Inc. boosted its holdings in shares of Aris Water Solutions by 74.5% in the 4th quarter. Meeder Asset Management Inc. now owns 4,042 shares of the company's stock valued at $97,000 after buying an additional 1,726 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Aris Water Solutions by 38.1% in the fourth quarter. Legal & General Group Plc now owns 5,779 shares of the company's stock valued at $138,000 after buying an additional 1,594 shares in the last quarter. Institutional investors own 39.71% of the company's stock.

Aris Water Solutions Stock Performance

Shares of NYSE ARIS traded down $0.61 during mid-day trading on Wednesday, reaching $23.51. 445,228 shares of the company were exchanged, compared to its average volume of 605,520. Aris Water Solutions, Inc. has a twelve month low of $13.34 and a twelve month high of $33.95. The stock has a market capitalization of $1.39 billion, a P/E ratio of 29.39 and a beta of 1.85. The company's 50-day simple moving average is $24.86 and its 200-day simple moving average is $26.46. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $120.49 million during the quarter, compared to analysts' expectations of $115.72 million. Aris Water Solutions had a return on equity of 3.74% and a net margin of 6.29%. As a group, research analysts predict that Aris Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Aris Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, June 5th. Aris Water Solutions's dividend payout ratio is 68.29%.

Analyst Ratings Changes

ARIS has been the subject of a number of recent analyst reports. Citigroup reiterated a "neutral" rating on shares of Aris Water Solutions in a research note on Monday, May 12th. Wells Fargo & Company dropped their target price on shares of Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. The Goldman Sachs Group cut their target price on shares of Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded Aris Water Solutions from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.00.

Insider Buying and Selling at Aris Water Solutions

In related news, CAO Jeffrey K. Hunt sold 10,000 shares of the company's stock in a transaction dated 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 approximately $1,296,396.84. This represents a 18.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas A. Patterson sold 8,299 shares of Aris Water Solutions stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total transaction of $253,949.40. Following the completion of the sale, the insider now owns 58,228 shares of the company's stock, valued at $1,781,776.80. This trade represents a 12.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,070,604 shares of company stock valued at $29,817,145 in the last ninety days. 37.84% of the stock is currently owned by corporate 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.