DAVENPORT & Co LLC Has $1.35 Million Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

DAVENPORT & Co LLC grew its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 65.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,800 shares of the company's stock after acquiring an additional 30,000 shares during the period. DAVENPORT & Co LLC owned about 0.06% of Atlas Energy Solutions worth $1,352,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AESI. Bank of New York Mellon Corp grew its holdings in Atlas Energy Solutions by 75.5% during the 4th quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock worth $18,535,000 after acquiring an additional 359,420 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Atlas Energy Solutions in the 4th quarter valued at about $495,000. Mutual of America Capital Management LLC bought a new stake in Atlas Energy Solutions in the 4th quarter valued at about $204,000. Charles Schwab Investment Management Inc. lifted its position in Atlas Energy Solutions by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 552,915 shares of the company's stock valued at $12,264,000 after purchasing an additional 34,346 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Atlas Energy Solutions in the 4th quarter valued at about $2,203,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

Insider Activity at Atlas Energy Solutions

In related news, Director Douglas G. Rogers acquired 7,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost 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 approximately $132,700. This trade represents a 233.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ben M. Brigham bought 9,635 shares of the stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the acquisition, the chairman owned 572,397 shares in the company, valued at $7,658,671.86. The trade was a 1.71% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company's stock.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock traded down $0.27 on Wednesday, reaching $14.16. The stock had a trading volume of 1,081,253 shares, compared to its average volume of 1,395,536. The business's 50-day moving average price is $13.43 and its two-hundred day moving average price is $17.29. 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 fifty-two week low of $11.76 and a fifty-two week high of $26.86. The stock has a market cap of $1.75 billion, a P/E ratio of 45.68 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). The company had revenue of $297.59 million for 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%. Atlas Energy Solutions's revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, sell-side analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 7.06%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's payout ratio is 322.58%.

Wall Street Analysts Forecast Growth

AESI has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Atlas Energy Solutions in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Citigroup dropped their target price on shares of 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. Royal Bank Of Canada lowered their price objective 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, Piper Sandler lowered their price objective on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of "Hold" and a consensus target price of $19.28.

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.