Principal Financial Group Inc. Acquires 63,036 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Principal Financial Group Inc. lifted its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 395,952 shares of the company's stock after purchasing an additional 63,036 shares during the period. Principal Financial Group Inc. owned about 0.33% of Atlas Energy Solutions worth $7,064,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Atlas Energy Solutions during the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC raised its position in Atlas Energy Solutions by 307.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after purchasing an additional 1,047 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Atlas Energy Solutions by 1,240.1% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after buying an additional 1,823 shares during the period. Canton Hathaway LLC bought a new stake in shares of Atlas Energy Solutions in the 1st quarter worth approximately $73,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Atlas Energy Solutions in the 4th quarter worth approximately $155,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Analyst Upgrades and Downgrades

AESI has been the subject of a number of research analyst reports. Citigroup dropped their price target on 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. Royal Bank Of Canada cut their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Piper Sandler reaffirmed a "neutral" rating and set a $16.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday. Finally, Stifel Nicolaus reduced their target price on Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a report on Wednesday. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.11.

Atlas Energy Solutions Stock Down 1.3%

Shares of NYSE AESI traded down $0.18 during trading on Friday, reaching $13.43. The company had a trading volume of 922,384 shares, compared to its average volume of 1,403,108. The business's 50-day moving average is $13.52 and its 200 day moving average is $16.88. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.66 billion, a PE ratio of 43.32 and a beta of 1.20. Atlas Energy Solutions Inc. has a 12-month low of $11.76 and a 12-month high of $26.86.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.10). The firm had revenue of $297.59 million for the quarter, compared to the consensus estimate of $291.13 million. Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. Atlas Energy Solutions's revenue was up 54.5% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. As a group, equities analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.45%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is currently 322.58%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, Director Douglas G. Rogers acquired 7,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the acquisition, the director owned 10,000 shares of the company's stock, valued at $132,700. This represents a 233.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ben M. Brigham acquired 9,635 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $13.38 per share, with a total value of $128,916.30. Following the completion of the acquisition, the chairman directly owned 572,397 shares of the company's stock, valued at $7,658,671.86. The trade was a 1.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company's stock.

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.