Boston Partners Sells 31,151 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Boston Partners lowered its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 40.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,195 shares of the company's stock after selling 31,151 shares during the period. Boston Partners' holdings in Atlas Energy Solutions were worth $1,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in Atlas Energy Solutions in the third quarter worth $17,314,000. First Sabrepoint Capital Management LP bought a new position in shares of Atlas Energy Solutions in the 3rd quarter worth about $8,066,000. Copeland Capital Management LLC lifted its position in Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock valued at $49,856,000 after acquiring an additional 363,742 shares during the period. Bank of New York Mellon Corp boosted its stake in Atlas Energy Solutions by 75.5% during the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock worth $18,535,000 after acquiring an additional 359,420 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Atlas Energy Solutions by 759.9% in the 4th quarter. Principal Financial Group Inc. now owns 332,916 shares of the company's stock worth $7,384,000 after buying an additional 294,201 shares during the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Performance

Shares of NYSE:AESI traded down $0.22 during midday trading on Wednesday, hitting $18.32. The company had a trading volume of 805,081 shares, compared to its average volume of 1,119,353. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 23.19 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. The company has a fifty day moving average of $20.85 and a two-hundred day moving average of $21.37. Atlas Energy Solutions Inc. has a 12-month low of $16.98 and a 12-month high of $26.86.

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Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to analysts' expectations of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. On average, equities research analysts expect that Atlas Energy Solutions Inc. will post 0.83 EPS 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. Stockholders of record on Friday, February 21st were paid a $0.25 dividend. 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 dividend on an annualized basis and a dividend yield of 5.46%. Atlas Energy Solutions's dividend payout ratio is 178.57%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 12,500 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $24.46, for a total transaction of $305,750.00. Following the sale, the insider now directly owns 362,010 shares of the company's stock, valued at $8,854,764.60. This represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gregory M. Shepard acquired 32,155 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $19.04 per share, with a total value of $612,231.20. Following the transaction, the insider now directly 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $1,164,750. 24.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AESI shares. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a "neutral" rating and a $23.00 target price on the stock. Stephens increased their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Bank of America reiterated a "neutral" rating and issued a $22.50 target price on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Piper Sandler began coverage on shares of Atlas Energy Solutions in a research report on Wednesday, March 12th. They set an "overweight" rating and a $22.00 price target for the company. Finally, Benchmark cut their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Atlas Energy Solutions presently has an average rating of "Moderate Buy" and an average target price of $23.83.

Atlas Energy Solutions Profile

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.