Hodges Capital Management Inc. Sells 110,000 Shares of Atlas Energy Solutions Inc. $AESI

Key Points

• Hodges Capital Management Inc. has reduced its stake in Atlas Energy Solutions by 56.7%, now owning approximately 84,000 shares valued at $1.5 million.
• Despite the decline from Hodges Capital, other institutional investors like Alpine Woods Capital Investors LLC increased their positions significantly, reflecting a diverse interest in the company.
• Atlas Energy Solutions has announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 9.3%.

Hodges Capital Management Inc. trimmed its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 56.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,000 shares of the company's stock after selling 110,000 shares during the period. Hodges Capital Management Inc. owned approximately 0.07% of Atlas Energy Solutions worth $1,499,000 at the end of the most recent quarter.

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

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock traded up $0.20 during trading on Thursday, hitting $11.25. The stock had a trading volume of 379,447 shares, compared to its average volume of 1,701,153. 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 stock's 50 day moving average is $12.17 and its two-hundred day moving average is $13.78. Atlas Energy Solutions Inc. has a 1 year low of $10.40 and a 1 year high of $26.86. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 80.18 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date was Thursday, August 14th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 714.29%.

Analyst Upgrades and Downgrades

AESI has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Stifel Nicolaus decreased their price objective on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.