Cetera Investment Advisers Purchases 547,359 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Cetera Investment Advisers lifted its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 593.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 639,528 shares of the company's stock after acquiring an additional 547,359 shares during the period. Cetera Investment Advisers owned 0.58% of Atlas Energy Solutions worth $14,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Atlas Energy Solutions by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after acquiring an additional 773,035 shares during the period. First Trust Advisors LP raised its stake in shares of Atlas Energy Solutions by 31.5% during the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock worth $86,697,000 after buying an additional 935,410 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Atlas Energy Solutions by 25.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock valued at $75,197,000 after purchasing an additional 689,846 shares during the period. Copeland Capital Management LLC grew its position in shares of 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 worth $49,856,000 after buying an additional 363,742 shares during the period. Finally, Northern Trust Corp grew its stake in Atlas Energy Solutions by 11.8% in the fourth quarter. Northern Trust Corp now owns 898,253 shares of the company's stock valued at $19,923,000 after acquiring an additional 94,949 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Atlas Energy Solutions news, Chairman Ben M. Brigham purchased 9,635 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $13.38 per share, with a total value of $128,916.30. Following the transaction, the chairman now owns 572,397 shares in the company, valued at $7,658,671.86. The trade was a 1.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard bought 32,155 shares of Atlas Energy Solutions stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $19.04 per share, with a total value of $612,231.20. Following the purchase, the insider now owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. This represents a 0.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Stephens lifted their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Benchmark lowered their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their target price on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.81.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded down $0.18 during midday trading on Thursday, hitting $12.82. 956,520 shares of the company were exchanged, compared to its average volume of 1,328,000. Atlas Energy Solutions Inc. has a 52 week low of $11.76 and a 52 week high of $26.86. The firm has a market capitalization of $1.56 billion, a P/E ratio of 16.21 and a beta of 1.34. The firm's 50 day moving average price is $15.24 and its two-hundred day moving average price is $19.59. 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 released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). The business had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm's quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, equities research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.80%. The ex-dividend date is Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 322.58%.

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.