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

Bank of New York Mellon Corp increased its stake in shares of 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 & 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 about 0.71% of Atlas Energy Solutions worth $15,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Atlas Energy Solutions by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 552,915 shares of the company's stock valued at $12,264,000 after acquiring an additional 34,346 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Atlas Energy Solutions during the 4th quarter worth approximately $495,000. Raymond James Financial Inc. acquired a new position in shares of Atlas Energy Solutions during the 4th quarter worth approximately $2,203,000. Avantax Advisory Services Inc. raised its position in shares of Atlas Energy Solutions by 22.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,509 shares of the company's stock worth $632,000 after purchasing an additional 5,183 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in Atlas Energy Solutions in the 4th quarter worth approximately $1,039,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Stock Up 4.2%

Shares of Atlas Energy Solutions stock traded up $0.57 on Wednesday, hitting $14.00. 2,112,881 shares of the company traded hands, compared to its average volume of 1,416,818. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Atlas Energy Solutions Inc. has a 12-month low of $11.76 and a 12-month high of $26.86. The company has a 50-day moving average price of $13.52 and a 200 day moving average price of $16.71. The company has a market cap of $1.73 billion, a PE ratio of 45.15 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued 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). Atlas Energy Solutions had a return on equity of 4.99% and a net margin of 2.96%. The business had revenue of $297.59 million during the quarter, compared to the consensus estimate of $291.13 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company's revenue for the quarter was up 54.5% on a year-over-year basis. Sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is currently 322.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AESI. Piper Sandler reissued a "neutral" rating and set a $16.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. The Goldman Sachs Group decreased their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus reduced their price target on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Royal Bank Of Canada reduced their price target on shares of 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. Finally, Citigroup dropped their price objective on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.11.

Insider Transactions at Atlas Energy Solutions

In other Atlas Energy Solutions news, Director Douglas G. Rogers acquired 7,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $13.27 per share, for a total transaction of $92,890.00. Following the purchase, the director owned 10,000 shares in the company, valued at $132,700. This represents a 233.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Ben M. Brigham purchased 9,635 shares of the company's stock in a transaction that occurred on 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 transaction, the chairman directly owned 572,397 shares of the company's stock, valued at approximately $7,658,671.86. This represents 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 currently owned by corporate insiders.

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.