American Century Companies Inc. Raises Stock Position in Atlas Energy Solutions Inc. $AESI

Key Points

• American Century Companies Inc. increased its stake in Atlas Energy Solutions Inc. by 144.8% in the first quarter, acquiring an additional 400,984 shares for a total of 677,849 shares valued at approximately $12.09 million.
• Several institutional investors have also bolstered their positions in Atlas Energy Solutions, contributing to a strong hedge fund presence that owns about 34.59% of the stock.
• Analysts have set a consensus rating of "Hold" for Atlas Energy Solutions, with an average target price of $18.83, although recent reports indicate reductions in price targets by multiple firms.

American Century Companies Inc. boosted its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 144.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677,849 shares of the company's stock after purchasing an additional 400,984 shares during the period. American Century Companies Inc. owned approximately 0.56% of Atlas Energy Solutions worth $12,093,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in Atlas Energy Solutions during the first quarter worth about $912,000. Alpine Woods Capital Investors LLC raised its stake in Atlas Energy Solutions by 1,360.8% during the first quarter. Alpine Woods Capital Investors LLC now owns 228,082 shares of the company's stock worth $4,069,000 after purchasing an additional 212,469 shares during the period. DAVENPORT & Co LLC raised its stake in Atlas Energy Solutions by 65.5% during the first quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock worth $1,352,000 after purchasing an additional 30,000 shares during the period. Envestnet Asset Management Inc. raised its stake in Atlas Energy Solutions by 9.6% during the first quarter. Envestnet Asset Management Inc. now owns 381,094 shares of the company's stock worth $6,799,000 after purchasing an additional 33,404 shares during the period. Finally, Amalgamated Bank raised its stake in Atlas Energy Solutions by 13.1% during the first quarter. Amalgamated Bank now owns 20,592 shares of the company's stock worth $367,000 after purchasing an additional 2,383 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Trading Up 0.4%

NYSE:AESI traded up $0.05 on Friday, reaching $11.74. 1,157,207 shares of the company's stock were exchanged, compared to its average volume of 1,482,876. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 83.83 and a beta of 1.19. The business has a fifty day moving average of $12.91 and a 200-day moving average of $14.58. Atlas Energy Solutions Inc. has a 52-week low of $10.92 and a 52-week high of $26.86.

Atlas Energy Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 8.5%. Atlas Energy Solutions's dividend payout ratio is 714.29%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler reduced 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. Stifel Nicolaus lowered their target price on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Citigroup lowered their target price on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada lowered their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $18.83.

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.