Russell Investments Group Ltd. Raises Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Russell Investments Group Ltd. lifted its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 131.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 128,694 shares of the company’s stock after acquiring an additional 73,202 shares during the period. Russell Investments Group Ltd. owned 0.13% of Atlas Energy Solutions worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new position in Atlas Energy Solutions during the fourth quarter worth about $387,000. Lyell Wealth Management LP acquired a new position in Atlas Energy Solutions in the fourth quarter valued at approximately $254,000. BOK Financial Private Wealth Inc. purchased a new position in Atlas Energy Solutions in the fourth quarter worth approximately $228,000. Strs Ohio acquired a new stake in Atlas Energy Solutions during the fourth quarter worth $549,000. Finally, Indie Asset Partners LLC raised its position in Atlas Energy Solutions by 45.6% in the fourth quarter. Indie Asset Partners LLC now owns 424,626 shares of the company’s stock valued at $7,312,000 after purchasing an additional 133,008 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Analyst Upgrades and Downgrades

AESI has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research note on Thursday, March 14th. They issued a “buy” rating and a $24.00 price target on the stock. Barclays increased their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada upped their price target on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $25.17.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $23.35 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43. Atlas Energy Solutions Inc. has a 52-week low of $15.28 and a 52-week high of $24.69. The firm has a market cap of $2.34 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 2.72 and a beta of 0.66. The company’s 50 day moving average is $22.39 and its two-hundred day moving average is $19.19.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The company had revenue of $192.67 million during the quarter, compared to analyst estimates of $196.39 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. On average, research analysts expect that Atlas Energy Solutions Inc. will post 2.06 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 35.56%.

Insider Transactions at Atlas Energy Solutions

In related news, CFO John Gregory Turner sold 3,728 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.58, for a total value of $84,178.24. Following the sale, the chief financial officer now owns 1,582,303 shares of the company’s stock, valued at $35,728,401.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Richard W. Schmidt sold 51,150 shares of Atlas Energy Solutions stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $22.98, for a total transaction of $1,175,427.00. Following the completion of the sale, the insider now directly owns 1,051,663 shares of the company’s stock, valued at approximately $24,167,215.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John Gregory Turner sold 3,728 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.58, for a total transaction of $84,178.24. Following the transaction, the chief financial officer now owns 1,582,303 shares of the company’s stock, valued at approximately $35,728,401.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 298,010 shares of company stock valued at $6,507,548. 24.34% of the stock is currently owned by corporate 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.