Clearbridge Investments LLC Cuts Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Clearbridge Investments LLC decreased its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,866,378 shares of the company's stock after selling 34,800 shares during the period. Clearbridge Investments LLC owned 2.60% of Atlas Energy Solutions worth $63,576,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC grew its position in shares of Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock valued at $30,000 after acquiring an additional 523 shares during the period. Global Retirement Partners LLC boosted its position in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock valued at $43,000 after acquiring an additional 1,276 shares during the period. Promus Capital LLC bought a new position in shares of Atlas Energy Solutions in the fourth quarter valued at approximately $55,000. FMR LLC grew its stake in Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company's stock valued at $59,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Atlas Energy Solutions by 55.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock worth $125,000 after purchasing an additional 2,043 shares during the period. Institutional investors own 34.59% of the company's stock.

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Atlas Energy Solutions Trading Down 12.8 %

Shares of NYSE:AESI traded down $2.02 during trading on Friday, reaching $13.79. The company's stock had a trading volume of 3,142,641 shares, compared to its average volume of 1,179,412. The stock has a market capitalization of $1.68 billion, a PE ratio of 17.46 and a beta of 1.20. Atlas Energy Solutions Inc. has a 12 month low of $13.14 and a 12 month high of $26.86. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The firm's 50 day simple moving average is $19.76 and its two-hundred day simple moving average is $21.18.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $271.34 million during the quarter, compared to analysts' expectations of $272.94 million. On average, research analysts predict that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced 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 represents a $1.00 annualized dividend and a dividend yield of 7.25%. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio is currently 178.57%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AESI. Stephens increased their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday. 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. 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 price objective on the stock. Finally, Barclays dropped their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.83.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 32,155 shares of the business's stock in a transaction on Thursday, February 27th. The shares were bought 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Brian Anthony Leveille sold 7,500 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $24.00, for a total value of $180,000.00. Following the completion of the sale, the insider now owns 397,010 shares in the company, valued at approximately $9,528,240. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,000 shares of company stock worth $1,049,750. 24.34% of the stock is currently owned by insiders.

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.