First Sabrepoint Capital Management LP Invests $8.07 Million in Atlas Energy Solutions Inc. (NYSE:AESI)

First Sabrepoint Capital Management LP purchased a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 370,000 shares of the company's stock, valued at approximately $8,066,000. Atlas Energy Solutions accounts for about 2.3% of First Sabrepoint Capital Management LP's portfolio, making the stock its 15th biggest position. First Sabrepoint Capital Management LP owned about 0.34% of Atlas Energy Solutions as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company's stock worth $34,000 after buying an additional 1,308 shares in the last quarter. Amalgamated Bank lifted its holdings in 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. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions during the 3rd quarter valued at about $48,000. FMR LLC grew its stake in shares of Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after purchasing an additional 1,355 shares during the last quarter. Finally, CWM LLC raised 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 worth $60,000 after purchasing an additional 886 shares in the last quarter. Institutional investors own 34.59% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on AESI shares. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group cut Atlas Energy Solutions from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Citigroup downgraded Atlas Energy Solutions from a "buy" rating to a "neutral" rating and reduced their target price for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Finally, Barclays lowered shares of Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $24.44.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares of the company's stock, valued at approximately $18,338,082.48. This represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the transaction, the insider now owns 542,010 shares in the company, valued at $11,111,205. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 60,869 shares of company stock valued at $1,187,983 and sold 128,213 shares valued at $2,816,806. 24.34% of the stock is currently owned by company insiders.

Atlas Energy Solutions Stock Up 1.9 %

Atlas Energy Solutions stock traded up $0.44 during trading hours on Tuesday, hitting $23.14. The company had a trading volume of 930,247 shares, compared to its average volume of 959,482. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. 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 firm has a market capitalization of $2.55 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 11.31 and a beta of 0.95. The firm's fifty day moving average is $21.37 and its 200-day moving average is $21.02.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.25). The company had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company's revenue was up 93.1% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, research analysts forecast that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.15%. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions's payout ratio is currently 121.52%.

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.