SCS Capital Management LLC Takes Position in Atlas Energy Solutions Inc. $AESI

Key Points

• SCS Capital Management LLC has acquired a position in Atlas Energy Solutions Inc., purchasing 26,164 shares valued at approximately $467,000 during the first quarter.
• Several hedge funds increased their stakes in Atlas Energy Solutions, with Alpine Woods Capital Investors LLC making a significant boost of 1,360.8%, now holding 228,082 shares worth over $4 million.
• Atlas Energy Solutions recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 9.2% despite a notably high dividend payout ratio of 714.29%.

SCS Capital Management LLC purchased a new stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,164 shares of the company's stock, valued at approximately $467,000.

A number of other hedge funds have also modified their holdings of the stock. Encompass Capital Advisors LLC purchased a new stake in shares of Atlas Energy Solutions during the first quarter valued at $43,614,000. Nuveen LLC acquired a new stake in Atlas Energy Solutions during the 1st quarter worth about $26,956,000. Vanguard Group Inc. lifted its stake in Atlas Energy Solutions by 16.5% during the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company's stock valued at $143,695,000 after buying an additional 1,139,352 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in shares of Atlas Energy Solutions in the first quarter worth about $18,844,000. Finally, Zimmer Partners LP acquired a new position in shares of Atlas Energy Solutions in the first quarter worth about $17,840,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Stock Down 1.3%

Shares of AESI stock traded down $0.14 during trading on Friday, hitting $10.79. 1,244,110 shares of the company were exchanged, compared to its average volume of 1,457,073. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.56. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 32.73 and a beta of 1.19. The business's 50-day simple moving average is $12.35 and its 200 day simple moving average is $13.88. Atlas Energy Solutions Inc. has a twelve month low of $10.40 and a twelve month high of $26.86.

Atlas Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.3%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's payout ratio is currently 714.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AESI. Stifel Nicolaus cut their price target on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Piper Sandler cut their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $18.83.

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.