Russell Investments Group Ltd. Sells 24,552 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Russell Investments Group Ltd. reduced its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,774 shares of the company's stock after selling 24,552 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Atlas Energy Solutions worth $2,856,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Atlas Energy Solutions by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after purchasing an additional 773,035 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock valued at $49,856,000 after acquiring an additional 363,742 shares during the period. State Street Corp boosted its holdings in shares of Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company's stock valued at $38,173,000 after acquiring an additional 227,776 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Atlas Energy Solutions by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company's stock valued at $31,579,000 after acquiring an additional 54,321 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Atlas Energy Solutions by 7.7% in the fourth quarter. Wellington Management Group LLP now owns 855,405 shares of the company's stock worth $18,973,000 after acquiring an additional 61,185 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI traded up $0.13 during midday trading on Wednesday, reaching $13.79. The stock had a trading volume of 250,863 shares, compared to its average volume of 1,715,044. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.46 and a beta of 1.20. Atlas Energy Solutions Inc. has a 12-month low of $12.41 and a 12-month high of $26.86. The stock has a 50-day moving average of $17.26 and a 200-day moving average of $20.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued 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). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $271.34 million during the quarter, compared to analysts' expectations of $272.94 million. As a group, research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.25%. The ex-dividend date was Friday, February 21st. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio (DPR) is 178.57%.

Insider Buying and Selling

In related news, major shareholder Gregory M. Shepard purchased 32,155 shares of Atlas Energy Solutions stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the acquisition, the insider now owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. The trade was a 0.42 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $24.46, for a total transaction of $305,750.00. Following the transaction, the insider now directly owns 362,010 shares of the company's stock, valued at $8,854,764.60. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. 15.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AESI. Royal Bank of Canada restated an "outperform" rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Bank of America reaffirmed a "neutral" rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Stephens increased their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Piper Sandler began coverage on Atlas Energy Solutions in a research note on Wednesday, March 12th. They set an "overweight" rating and a $22.00 price target for the company. Finally, The Goldman Sachs Group lowered 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 note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.44.

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.