Wellington Management Group LLP Buys New Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Wellington Management Group LLP purchased a new position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 794,220 shares of the company's stock, valued at approximately $17,314,000. Wellington Management Group LLP owned about 0.72% of Atlas Energy Solutions at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Atlas Energy Solutions by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company's stock valued at $53,740,000 after acquiring an additional 30,082 shares in the last quarter. Meridian Wealth Advisors LLC raised its holdings in shares of Atlas Energy Solutions by 25.8% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company's stock valued at $53,362,000 after purchasing an additional 548,620 shares in the last quarter. Copeland Capital Management LLC boosted its position in 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 valued at $41,072,000 after purchasing an additional 311,228 shares in the last quarter. State Street Corp increased its position in shares of Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company's stock worth $38,173,000 after purchasing an additional 227,776 shares in the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of Atlas Energy Solutions by 775.7% during the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company's stock valued at $33,861,000 after acquiring an additional 1,504,988 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on AESI shares. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research note on Friday. They set a "neutral" rating and a $23.00 price objective for the company. Citigroup cut Atlas Energy Solutions from a "buy" rating to a "neutral" rating and cut their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Barclays lowered shares of Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Finally, Pickering Energy Partners cut Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.67.

Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.02, for a total transaction of $720,600.00. Following the transaction, the insider now directly owns 432,010 shares of the company's stock, valued at $10,376,880.20. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total transaction of $184,190.79. Following the completion of the transaction, the insider now directly owns 934,746 shares of the company's stock, valued at approximately $20,087,691.54. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 60,869 shares of company stock valued at $1,187,983 and have sold 119,642 shares valued at $2,650,185. Corporate insiders own 24.34% of the company's stock.

Atlas Energy Solutions Stock Up 2.4 %

Shares of NYSE AESI traded up $0.54 during midday trading on Friday, hitting $23.16. 1,099,866 shares of the company's stock were exchanged, compared to its average volume of 963,479. The company has a market cap of $2.55 billion, a PE ratio of 29.32, a P/E/G ratio of 11.53 and a beta of 0.96. 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 twelve month low of $15.55 and a twelve month high of $24.93. The firm's fifty day simple moving average is $21.42 and its 200-day simple moving average is $21.00.

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

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.15%. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.23. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 121.52%.

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.