Bank of New York Mellon Corp Increases Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Bank of New York Mellon Corp grew its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 75.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 835,683 shares of the company's stock after buying an additional 359,420 shares during the period. Bank of New York Mellon Corp owned 0.76% of Atlas Energy Solutions worth $18,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AESI. Principal Financial Group Inc. acquired a new position in shares of Atlas Energy Solutions during the third quarter worth about $844,000. Quest Partners LLC acquired a new position in shares of Atlas Energy Solutions during the third quarter worth about $48,000. Intech Investment Management LLC acquired a new position in shares of Atlas Energy Solutions during the third quarter worth about $323,000. Charles Schwab Investment Management Inc. increased its stake in shares of Atlas Energy Solutions by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company's stock worth $11,305,000 after acquiring an additional 25,999 shares during the period. Finally, FMR LLC increased its stake in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after acquiring an additional 1,355 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Down 0.4 %

AESI stock opened at $17.55 on Wednesday. The company's 50 day simple moving average is $21.80 and its 200-day simple moving average is $21.59. The firm has a market capitalization of $2.14 billion, a PE ratio of 22.21 and a beta of 1.18. Atlas Energy Solutions Inc. has a 12 month low of $16.98 and a 12 month high of $26.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

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Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). The business had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Equities analysts expect that Atlas Energy Solutions Inc. will post 0.83 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 Friday, February 28th. Investors of record on Friday, February 21st were paid a dividend of $0.25 per share. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 5.70%. Atlas Energy Solutions's dividend payout ratio is presently 178.57%.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of recent analyst reports. Citigroup lowered shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Barclays dropped their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Raymond James lowered shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Bank of America restated a "neutral" rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They set a "neutral" rating and a $23.00 target price on the stock. Six investment 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 stock. According to data from MarketBeat.com, Atlas Energy Solutions has an average rating of "Moderate Buy" and an average price target of $24.39.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the insider now owns 404,510 shares of the company's stock, valued at $9,303,730. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total transaction of $193,276.05. Following the transaction, the insider now directly owns 917,604 shares in the company, valued at approximately $20,691,970.20. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,571 shares of company stock valued at $1,473,876. Company 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.

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