Price T Rowe Associates Inc. MD Trims Stake in Atlas Energy Solutions Inc. $AESI

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Atlas Energy Solutions Inc. by 10.5% during Q1, owning approximately 3,033,935 shares worth $54.1 million after selling 356,334 shares.
• Analysts have recently lowered price targets for Atlas Energy Solutions, with Citigroup dropping its target from $18.00 to $14.00 and several firms maintaining a "neutral" or "hold" rating.
• Atlas Energy Solutions declared a quarterly dividend of $0.25, representing an annualized rate of $1.00, with a high dividend yield of 8.6%.

Price T Rowe Associates Inc. MD lowered its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 10.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,033,935 shares of the company's stock after selling 356,334 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.49% of Atlas Energy Solutions worth $54,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC purchased a new position in shares of Atlas Energy Solutions during the 1st quarter worth $18,844,000. Quantbot Technologies LP boosted its stake in shares of Atlas Energy Solutions by 674.3% during the 1st quarter. Quantbot Technologies LP now owns 125,889 shares of the company's stock worth $2,246,000 after acquiring an additional 109,630 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Atlas Energy Solutions by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 903,711 shares of the company's stock worth $16,122,000 after acquiring an additional 48,306 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Atlas Energy Solutions by 7.6% during the 1st quarter. Northern Trust Corp now owns 966,528 shares of the company's stock worth $17,243,000 after acquiring an additional 68,275 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of Atlas Energy Solutions during the 1st quarter worth $629,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

Shares of AESI stock traded up $0.05 on Monday, reaching $11.74. The company's stock had a trading volume of 1,157,207 shares, compared to its average volume of 1,482,876. The stock's fifty day simple moving average is $12.87 and its 200-day simple moving average is $14.51. Atlas Energy Solutions Inc. has a 1 year low of $10.92 and a 1 year high of $26.86. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 83.83 and a beta of 1.19.

Atlas Energy Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given 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 payout ratio is 714.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AESI shares. Piper Sandler dropped their price target 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. Royal Bank Of Canada reduced their price objective 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. Stifel Nicolaus reduced their price objective 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. Finally, Citigroup reduced their price objective 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. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Atlas Energy Solutions currently has an average rating of "Hold" and an average target price of $18.83.

Atlas Energy Solutions 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.