Bank of New York Mellon Corp Acquires 23,429 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Bank of New York Mellon Corp increased its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 859,112 shares of the company's stock after buying an additional 23,429 shares during the quarter. Bank of New York Mellon Corp owned 0.71% of Atlas Energy Solutions worth $15,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AESI. Quarry LP purchased a new stake in Atlas Energy Solutions in the 4th quarter worth about $27,000. Tower Research Capital LLC TRC grew its stake in shares of Atlas Energy Solutions by 307.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after buying an additional 1,047 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Atlas Energy Solutions by 1,240.1% in the first 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 during the 1st quarter worth approximately $73,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Atlas Energy Solutions during the 4th quarter worth approximately $155,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Ben M. Brigham bought 9,635 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, May 14th. The stock was acquired 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 in the company, valued at approximately $7,658,671.86. This trade represents a 1.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas G. Rogers acquired 7,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $13.27 per share, with a total value of $92,890.00. Following the transaction, the director owned 10,000 shares of the company's stock, valued at approximately $132,700. The trade was a 233.33% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on AESI shares. Piper Sandler reissued a "neutral" rating and set a $16.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, July 15th. Stifel Nicolaus cut their price objective on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Royal Bank Of Canada decreased 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 report on Wednesday, May 7th. Citigroup lowered their price target on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group reduced their price objective on 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.11.

Atlas Energy Solutions Stock Up 1.8%

AESI stock traded up $0.24 during midday trading on Tuesday, hitting $13.44. 720,096 shares of the company's stock were exchanged, compared to its average volume of 1,403,829. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 43.39 and a beta of 1.20. The company has a current ratio of 1.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $13.52 and a 200-day moving average price of $16.80. 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 issued its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.10). The company had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. The business's revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 7.44%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is presently 322.58%.

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.