Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Acquires $35,311.05 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 1,797 shares of the company’s stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $19.65 per share, with a total value of $35,311.05. Following the transaction, the insider now directly owns 7,507,194 shares in the company, valued at $147,516,362.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock traded up $0.03 during mid-day trading on Monday, hitting $19.97. The stock had a trading volume of 395,221 shares, compared to its average volume of 873,103. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93. The firm’s 50 day moving average is $20.99 and its 200 day moving average is $21.41. The firm has a market capitalization of $2.00 billion, a P/E ratio of 11.08, a P/E/G ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. During the same quarter in the previous year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 77.7% compared to the same quarter last year. On average, sell-side analysts forecast that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.23 dividend. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.92 dividend on an annualized basis and a yield of 4.61%. Atlas Energy Solutions’s payout ratio is presently 51.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 1,801 shares during the last quarter. CWM LLC lifted its holdings in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after acquiring an additional 886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Atlas Energy Solutions in the second quarter worth about $74,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Atlas Energy Solutions during the first quarter worth approximately $78,000. 34.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AESI has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Bank of America cut their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Barclays lowered their price objective on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.75.

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.