Atlas Energy Solutions Inc. (NYSE:AESI) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc grew its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 257.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 144,400 shares of the company's stock after acquiring an additional 104,045 shares during the period. Legal & General Group Plc owned about 0.13% of Atlas Energy Solutions worth $3,203,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Atlas Energy Solutions by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after buying an additional 773,035 shares during the period. Copeland Capital Management LLC boosted its stake in Atlas Energy Solutions by 19.3% during the fourth 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 grew its holdings in Atlas Energy Solutions by 75.5% in the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock worth $18,535,000 after purchasing an additional 359,420 shares during the period. Principal Financial Group Inc. increased its stake in shares of Atlas Energy Solutions by 759.9% during the fourth 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. Finally, Royce & Associates LP purchased a new position in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $4,990,000. Institutional investors own 34.59% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Brian Anthony Leveille sold 12,500 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $24.46, for a total value of $305,750.00. Following the sale, the insider now owns 362,010 shares in the company, valued at approximately $8,854,764.60. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now owns 897,604 shares of the company's stock, valued at $20,196,090. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.98% of the company's stock.

Analyst Upgrades and Downgrades

AESI has been the subject of a number of analyst reports. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group cut their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. 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 reiterated a "neutral" rating and set a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.44.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock traded up $0.08 during mid-day trading on Friday, reaching $14.24. 969,022 shares of the stock traded hands, compared to its average volume of 1,255,715. Atlas Energy Solutions Inc. has a 12-month low of $12.41 and a 12-month high of $26.86. The business's 50-day moving average is $16.78 and its 200-day moving average is $20.19. 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 stock has a market capitalization of $1.73 billion, a PE ratio of 18.02 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its earnings results 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 the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 7.02%. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's payout ratio is 178.57%.

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.