Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Richard W. Schmidt Sells 21,043 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Richard W. Schmidt sold 21,043 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $22.44, for a total transaction of $472,204.92. Following the transaction, the insider now directly owns 1,119,553 shares in the company, valued at $25,122,769.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Atlas Energy Solutions Stock Up 1.4 %

Shares of AESI opened at $22.49 on Thursday. The firm has a market cap of $2.25 billion and a PE ratio of 14.32. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average is $19.06 and its two-hundred day moving average is $18.95. Atlas Energy Solutions Inc. has a fifty-two week low of $15.28 and a fifty-two week high of $24.69.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.24). Atlas Energy Solutions had a net margin of 17.17% and a return on equity of 47.40%. The firm had revenue of $141.14 million during the quarter, compared to analyst estimates of $147.34 million. Analysts forecast that Atlas Energy Solutions Inc. will post 2.98 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 22nd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.20. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 40.76%.

Institutional Trading of Atlas Energy Solutions

Large investors have recently added to or reduced their stakes in the stock. Indie Asset Partners LLC purchased a new stake in shares of Atlas Energy Solutions in the third quarter worth about $6,483,000. Keeley Teton Advisors LLC purchased a new position in Atlas Energy Solutions in the 3rd quarter worth approximately $3,045,000. Jacobs Levy Equity Management Inc. grew its position in Atlas Energy Solutions by 1,065.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 581,134 shares of the company’s stock valued at $12,919,000 after acquiring an additional 531,261 shares in the last quarter. Austin Asset Management Co Inc acquired a new stake in Atlas Energy Solutions in the fourth quarter valued at approximately $2,708,000. Finally, Seven Grand Managers LLC purchased a new stake in shares of Atlas Energy Solutions during the second quarter valued at approximately $456,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AESI shares. Barclays raised their price target on Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Royal Bank of Canada increased their price target on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group began coverage on Atlas Energy Solutions in a report on Thursday, March 14th. They issued a “buy” rating and a $24.00 price target for the company. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.00.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.