Millennium Management LLC Buys 56,903 Shares of Aris Water Solutions, Inc. (NYSE:ARIS)

Millennium Management LLC raised its position in Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,640 shares of the company's stock after acquiring an additional 56,903 shares during the quarter. Millennium Management LLC owned approximately 0.52% of Aris Water Solutions worth $7,224,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ARIS. SG Americas Securities LLC increased its position in shares of Aris Water Solutions by 48.1% in the fourth quarter. SG Americas Securities LLC now owns 10,941 shares of the company's stock valued at $262,000 after acquiring an additional 3,554 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Aris Water Solutions in the fourth quarter valued at about $279,000. Perigon Wealth Management LLC purchased a new position in shares of Aris Water Solutions in the fourth quarter valued at about $320,000. Legato Capital Management LLC increased its position in shares of Aris Water Solutions by 7.2% in the fourth quarter. Legato Capital Management LLC now owns 93,186 shares of the company's stock valued at $2,232,000 after acquiring an additional 6,259 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Aris Water Solutions by 10.4% in the fourth quarter. Principal Financial Group Inc. now owns 33,635 shares of the company's stock valued at $806,000 after acquiring an additional 3,179 shares during the period. Hedge funds and other institutional investors own 39.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARIS shares. Wall Street Zen cut shares of Aris Water Solutions from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Citigroup reiterated a "neutral" rating on shares of Aris Water Solutions in a research report on Monday, May 12th. The Goldman Sachs Group reduced their price target on shares of 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. Finally, Wells Fargo & Company reduced their price target on shares of Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.00.

Insider Buying and Selling

In other news, CAO Jeffrey K. Hunt sold 10,000 shares of the company's stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.70, for a total transaction of $27,700,000.00. The disclosure for this sale can be found here. Insiders have sold 1,070,604 shares of company stock valued at $29,817,145 over the last quarter. Corporate insiders own 37.84% of the company's stock.

Aris Water Solutions Stock Down 2.3%

NYSE:ARIS traded down $0.53 during mid-day trading on Friday, hitting $22.08. 977,918 shares of the company's stock were exchanged, compared to its average volume of 602,449. Aris Water Solutions, Inc. has a one year low of $13.34 and a one year high of $33.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. The business has a fifty day moving average price of $25.40 and a 200 day moving average price of $26.50. The company has a market cap of $1.31 billion, a PE ratio of 27.60 and a beta of 1.85.

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

Aris Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, June 5th. Aris Water Solutions's payout ratio is currently 68.29%.

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.