Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Acquires $280,770.79 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) major shareholder Gregory M. Shepard acquired 14,347 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average cost of $19.57 per share, for a total transaction of $280,770.79. Following the purchase, the insider now directly owns 7,554,653 shares in the company, valued at $147,844,559.21. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock traded up $0.80 on Monday, hitting $19.96. The stock had a trading volume of 1,204,960 shares, compared to its average volume of 886,205. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 10.82 and a beta of 0.70. The company has a quick ratio of 1.35, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93. The business's 50 day moving average is $20.95 and its two-hundred day moving average is $21.18.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same period in the previous year, the firm posted $0.51 EPS. The company's revenue was up 93.1% compared to the same quarter last year. Analysts forecast that Atlas Energy Solutions Inc. will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.24 per share. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Thursday, November 7th. Atlas Energy Solutions's dividend payout ratio is 116.46%.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in Atlas Energy Solutions during the third quarter valued at approximately $844,000. Emerald Advisers LLC increased its stake in shares of Atlas Energy Solutions by 28.4% in the 3rd quarter. Emerald Advisers LLC now owns 10,850 shares of the company's stock valued at $237,000 after purchasing an additional 2,400 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of Atlas Energy Solutions during the 3rd quarter worth $322,000. Tectonic Advisors LLC lifted its position in shares of Atlas Energy Solutions by 7.5% during the 3rd quarter. Tectonic Advisors LLC now owns 59,725 shares of the company's stock worth $1,302,000 after buying an additional 4,187 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company's stock valued at $41,072,000 after buying an additional 311,228 shares in the last quarter. Institutional investors own 34.59% of the company's stock.

Analyst Ratings Changes

AESI has been the subject of several research analyst reports. Piper Sandler reduced their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Bank of America reduced their price objective on Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, July 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a report on Wednesday, October 30th. Finally, Stephens reissued an "overweight" rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $25.75.

Atlas Energy Solutions Company 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.