540,370 Shares in Aris Water Solutions, Inc. $ARIS Purchased by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC purchased 540,370 shares of Aris Water Solutions, Inc. for approximately $17.3 million, representing about 0.92% ownership of the company.
• Aris Water Solutions announced a quarterly dividend of $0.14 per share, with a dividend yield of 2.3% and a payout ratio of 67.47%.
• Analysts have downgraded Aris Water Solutions, with the average target price now set at $26.50 and an average rating of "Hold".

First Manhattan CO. LLC. purchased a new position in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 540,370 shares of the company's stock, valued at approximately $17,313,000. First Manhattan CO. LLC. owned approximately 0.92% of Aris Water Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Aris Water Solutions during the first quarter worth $867,000. Janney Montgomery Scott LLC grew its stake in shares of Aris Water Solutions by 233.8% in the first quarter. Janney Montgomery Scott LLC now owns 38,898 shares of the company's stock worth $1,246,000 after purchasing an additional 27,246 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Aris Water Solutions by 4,584.0% in the first quarter. GAMMA Investing LLC now owns 29,509 shares of the company's stock worth $921,000 after purchasing an additional 28,879 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Aris Water Solutions by 3,062.6% in the first quarter. Farther Finance Advisors LLC now owns 3,637 shares of the company's stock worth $119,000 after purchasing an additional 3,522 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Aris Water Solutions by 11.2% in the first quarter. Envestnet Asset Management Inc. now owns 20,599 shares of the company's stock worth $660,000 after purchasing an additional 2,070 shares during the last quarter. 39.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Zacks Research raised shares of Aris Water Solutions from a "strong sell" rating to a "hold" rating in a research note on Monday, September 1st. Wall Street Zen cut shares of Aris Water Solutions from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Wells Fargo & Company set a $27.00 price objective on shares of Aris Water Solutions in a research note on Tuesday, August 19th. Citigroup reaffirmed a "neutral" rating on shares of Aris Water Solutions in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. began coverage on shares of Aris Water Solutions in a research report on Tuesday, July 29th. They set a "neutral" rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Aris Water Solutions has an average rating of "Hold" and a consensus price target of $26.50.

Aris Water Solutions Trading Down 1.0%

ARIS traded down $0.23 during trading on Friday, reaching $23.80. 920,236 shares of the stock traded hands, compared to its average volume of 1,348,367. The stock has a market capitalization of $1.41 billion, a PE ratio of 28.67 and a beta of 1.68. The stock's 50-day moving average is $22.90 and its 200 day moving average is $25.09. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.62. Aris Water Solutions, Inc. has a 12 month low of $14.46 and a 12 month high of $33.95.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). The company had revenue of $124.09 million for the quarter, compared to the consensus estimate of $120.68 million. Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.00%. Equities analysts anticipate that Aris Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Aris Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. Aris Water Solutions's dividend payout ratio is 67.47%.

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.