State Street Corp Purchases 227,776 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

State Street Corp raised its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,751,059 shares of the company's stock after buying an additional 227,776 shares during the period. State Street Corp owned 1.59% of Atlas Energy Solutions worth $38,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its stake in shares of Atlas Energy Solutions by 28.6% in the third quarter. Stifel Financial Corp now owns 126,667 shares of the company's stock valued at $2,761,000 after buying an additional 28,158 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Atlas Energy Solutions by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company's stock worth $11,305,000 after acquiring an additional 25,999 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Atlas Energy Solutions in the 3rd quarter valued at approximately $844,000. KEMPER Corp bought a new position in shares of Atlas Energy Solutions during the second quarter valued at $776,000. Finally, Copeland Capital Management LLC lifted its holdings in shares of Atlas Energy Solutions by 19.8% during the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company's stock worth $41,072,000 after purchasing an additional 311,228 shares during the period. Institutional investors own 34.59% of the company's stock.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the sale, the insider now directly owns 542,010 shares in the company, valued at approximately $11,111,205. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the completion of the transaction, the insider now directly owns 917,604 shares in the company, valued at approximately $20,691,970.20. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 133,213 shares valued at $2,959,311. 24.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AESI. Pickering Energy Partners lowered Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an "outperform" rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Citigroup cut Atlas Energy Solutions from a "buy" rating to a "neutral" rating and reduced their target price for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Barclays lowered shares of Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They issued a "neutral" rating and a $23.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.67.

Atlas Energy Solutions Stock Up 0.5 %

AESI stock traded up $0.11 during trading on Friday, reaching $21.44. 2,035,416 shares of the stock were exchanged, compared to its average volume of 968,396. The firm's 50 day moving average is $21.47 and its 200 day moving average is $20.97. The firm has a market cap of $2.36 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. 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 twelve month low of $15.55 and a twelve month high of $24.93.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. During the same period in the previous year, the company earned $0.51 earnings per share. Atlas Energy Solutions's revenue for the quarter was up 93.1% compared to the same quarter last year. As a group, research analysts forecast that Atlas Energy Solutions Inc. will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 121.52%.

Atlas Energy Solutions 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.