Raymond James Financial Inc. Acquires New Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Raymond James Financial Inc. bought a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 99,330 shares of the company's stock, valued at approximately $2,203,000. Raymond James Financial Inc. owned approximately 0.09% of Atlas Energy Solutions at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Atlas Energy Solutions by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company's stock valued at $979,000 after buying an additional 711 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Atlas Energy Solutions by 8.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company's stock valued at $328,000 after acquiring an additional 1,100 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock worth $43,000 after acquiring an additional 1,276 shares during the last quarter. FMR LLC grew its holdings in Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Atlas Energy Solutions by 55.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company's stock valued at $125,000 after purchasing an additional 2,043 shares during the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on AESI shares. Raymond James downgraded shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a "neutral" rating and a $23.00 price objective for the company. Bank of America reissued a "neutral" rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Barclays lowered their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Finally, Stephens raised their price objective 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.83.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock traded down $2.60 during trading on Thursday, reaching $15.81. The company's stock had a trading volume of 2,067,166 shares, compared to its average volume of 1,169,166. The firm has a market cap of $1.92 billion, a PE ratio of 20.01 and a beta of 1.18. The company has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $21.24. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a fifty-two week low of $15.71 and a fifty-two week high of $26.86.

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 analysts' consensus estimates of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to analysts' expectations of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. On average, analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio is 178.57%.

Insider Buying and Selling

In related news, major shareholder Brian Anthony Leveille sold 7,500 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $24.00, for a total transaction of $180,000.00. Following the completion of the transaction, the insider now directly owns 397,010 shares of the company's stock, valued at $9,528,240. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Stacy Hock sold 10,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.50, for a total value of $225,000.00. Following the completion of the sale, the insider now directly owns 897,604 shares in the company, valued at $20,196,090. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $1,049,750 over the last three months. 24.34% of the stock is currently owned by company insiders.

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.