Intech Investment Management LLC Increases Stock Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Intech Investment Management LLC raised its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 109.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 31,142 shares of the company's stock after purchasing an additional 16,307 shares during the quarter. Intech Investment Management LLC's holdings in Atlas Energy Solutions were worth $691,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a "neutral" rating and a $23.00 price target on the stock. Piper Sandler initiated coverage on Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $22.00 target price for the company. Raymond James cut Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Royal Bank of Canada reduced their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Stephens upped their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.83.

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Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard purchased 32,155 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased 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 approximately $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock valued at $1,164,750. Company insiders own 24.34% of the company's stock.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI traded down $0.24 during midday trading on Thursday, reaching $18.04. The company's stock had a trading volume of 1,238,914 shares, compared to its average volume of 1,119,924. The stock has a market capitalization of $2.20 billion, a P/E ratio of 22.84 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 firm has a 50 day moving average price of $20.74 and a 200-day moving average price of $21.35. Atlas Energy Solutions Inc. has a 12-month low of $16.98 and a 12-month high of $26.86.

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 the consensus estimate 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 business had revenue of $271.34 million during the quarter, compared to analysts' expectations of $272.94 million. As a group, equities analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio (DPR) is 178.57%.

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.