Atlas Energy Solutions Inc. (NYSE:AESI) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 18.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 395,952 shares of the company's stock after acquiring an additional 63,036 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Atlas Energy Solutions worth $7,064,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Atlas Energy Solutions in the 1st quarter worth approximately $912,000. DAVENPORT & Co LLC raised its holdings in shares of Atlas Energy Solutions by 65.5% during the first quarter. DAVENPORT & Co LLC now owns 75,800 shares of the company's stock valued at $1,352,000 after acquiring an additional 30,000 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Atlas Energy Solutions by 13.1% during the first quarter. Amalgamated Bank now owns 20,592 shares of the company's stock valued at $367,000 after acquiring an additional 2,383 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Atlas Energy Solutions by 9.3% during the first quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock valued at $253,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Atlas Energy Solutions by 1,240.1% during the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock valued at $35,000 after buying an additional 1,823 shares in the last quarter. Institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

NYSE:AESI traded down $0.18 during trading hours on Friday, reaching $13.43. The stock had a trading volume of 922,384 shares, compared to its average volume of 1,403,108. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.40 and a current ratio of 1.62. Atlas Energy Solutions Inc. has a 52 week low of $11.76 and a 52 week high of $26.86. The company has a 50 day moving average price of $13.52 and a two-hundred day moving average price of $16.88. The stock has a market capitalization of $1.66 billion, a PE ratio of 43.32 and a beta of 1.20.

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

Atlas Energy Solutions Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Douglas G. Rogers acquired 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at $132,700. This trade represents a 233.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Ben M. Brigham acquired 9,635 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $13.38 per share, with a total value of $128,916.30. Following the completion of the purchase, the chairman directly owned 572,397 shares in the company, 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. 15.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AESI has been the topic of a number of recent research reports. Piper Sandler reissued a "neutral" rating and issued a $16.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday. The Goldman Sachs Group dropped their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Royal Bank Of Canada dropped their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their target price on Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Citigroup dropped their target price on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $19.11.

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.