Intech Investment Management LLC Acquires 16,307 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Intech Investment Management LLC increased its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 109.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,142 shares of the company’s stock after purchasing an additional 16,307 shares during the quarter. Intech Investment Management LLC’s holdings in Atlas Energy Solutions were worth $691,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Thrivent Financial for Lutherans bought a new stake in shares of Atlas Energy Solutions during the 4th quarter valued at $1,039,000. Royce & Associates LP acquired a new stake in shares of Atlas Energy Solutions during the fourth quarter worth $4,990,000. CBIZ Investment Advisory Services LLC increased its holdings in Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Atlas Energy Solutions by 22.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 28,509 shares of the company’s stock valued at $632,000 after buying an additional 5,183 shares during the period. Finally, Personal CFO Solutions LLC boosted its holdings in Atlas Energy Solutions by 32.6% during the fourth quarter. Personal CFO Solutions LLC now owns 12,750 shares of the company’s stock worth $283,000 after buying an additional 3,135 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AESI has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on Atlas Energy Solutions in a research note on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 price target for the company. Benchmark cut their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Atlas Energy Solutions Stock Down 2.0 %

AESI stock opened at $17.96 on Monday. The business has a 50-day moving average of $21.00 and a 200-day moving average of $21.39. Atlas Energy Solutions Inc. has a fifty-two week low of $16.98 and a fifty-two week high of $26.86. The stock has a market capitalization of $2.19 billion, a P/E ratio of 22.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). The business had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. On average, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 5.57%. Atlas Energy Solutions’s payout ratio is 178.57%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $21.96, for a total value of $219,600.00. Following the completion of the sale, the insider now owns 907,604 shares of the company’s stock, valued at approximately $19,930,983.84. This represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard bought 32,155 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the acquisition, the insider now owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. The trade was a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 50,000 shares of company stock worth $1,164,750 in the last three months. Insiders own 24.34% of the company’s stock.

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.