Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Purchases $455,515.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) major shareholder Gregory M. Shepard acquired 23,300 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the purchase, the insider now directly owns 7,540,306 shares of the company's stock, valued at $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Performance

AESI stock traded up $0.01 during midday trading on Monday, reaching $20.04. 771,233 shares of the company's stock traded hands, compared to its average volume of 876,845. Atlas Energy Solutions Inc. has a 52-week low of $15.55 and a 52-week high of $24.93. The stock has a market cap of $2.00 billion, a P/E ratio of 11.13, a PEG ratio of 6.47 and a beta of 0.56. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average is $20.99 and its 200 day moving average is $21.26.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.18). The business had revenue of $287.52 million for the quarter, compared to analysts' expectations of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The firm's quarterly revenue was up 77.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. As a group, analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.23 dividend. The ex-dividend date was Thursday, August 15th. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.59%. Atlas Energy Solutions's dividend payout ratio is 51.11%.

Institutional Trading of Atlas Energy Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Atlas Energy Solutions by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company's stock worth $104,409,000 after acquiring an additional 33,286 shares during the last quarter. Sei Investments Co. boosted its position in shares of Atlas Energy Solutions by 119.0% during the first quarter. Sei Investments Co. now owns 88,106 shares of the company's stock worth $1,993,000 after acquiring an additional 47,882 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Atlas Energy Solutions during the first quarter worth $592,000. Lazard Asset Management LLC bought a new position in shares of Atlas Energy Solutions during the first quarter worth $8,728,000. Finally, Capstone Investment Advisors LLC boosted its position in shares of Atlas Energy Solutions by 9.2% during the first quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company's stock worth $12,347,000 after acquiring an additional 45,859 shares during the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AESI has been the topic of several analyst reports. Bank of America dropped their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada dropped their target price on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, October 11th. Stephens reiterated an "overweight" rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Benchmark reissued a "buy" rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Barclays decreased their price objective on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Atlas Energy Solutions has an average rating of "Buy" and a consensus target price of $25.75.

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.

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