Principal Financial Group Inc. Purchases 294,201 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Principal Financial Group Inc. lifted its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 759.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,916 shares of the company's stock after purchasing an additional 294,201 shares during the quarter. Principal Financial Group Inc. owned 0.30% of Atlas Energy Solutions worth $7,384,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Emerald Advisers LLC increased its stake in Atlas Energy Solutions by 28.4% in the third quarter. Emerald Advisers LLC now owns 10,850 shares of the company's stock valued at $237,000 after acquiring an additional 2,400 shares during the period. Quest Partners LLC acquired a new position in Atlas Energy Solutions during the 3rd quarter worth about $48,000. Intech Investment Management LLC bought a new stake in shares of Atlas Energy Solutions during the third quarter valued at approximately $323,000. Charles Schwab Investment Management Inc. increased its stake in shares of Atlas Energy Solutions by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company's stock valued at $11,305,000 after buying an additional 25,999 shares during the period. Finally, FMR LLC lifted its position in Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company's stock valued at $59,000 after purchasing an additional 1,355 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Trading Down 2.0 %

NYSE AESI traded down $0.36 during trading hours on Wednesday, reaching $17.49. The company's stock had a trading volume of 1,916,311 shares, compared to its average volume of 1,622,181. The firm has a fifty day simple moving average of $22.17 and a 200-day simple moving average of $21.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions Inc. has a 52 week low of $17.02 and a 52 week high of $26.86. The stock has a market cap of $1.93 billion, a P/E ratio of 22.14 and a beta of 1.03.

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Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Equities analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a dividend of $0.25 per share. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 5.72%. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 178.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark dropped their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Citigroup cut Atlas Energy Solutions from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They set a "neutral" rating and a $23.00 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. Finally, Royal Bank of Canada cut 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. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.39.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total transaction of $193,276.05. Following the completion of the sale, the insider now owns 917,604 shares in the company, valued at approximately $20,691,970.20. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.17, for a total transaction of $115,850.00. Following the completion of the transaction, the insider now directly owns 409,510 shares in the company, valued at $9,488,346.70. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,571 shares of company stock worth $1,473,876 in the last 90 days. Corporate insiders own 24.34% of the company's stock.

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.