DAVENPORT & Co LLC Purchases 30,000 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

DAVENPORT & Co LLC grew its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 65.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,800 shares of the company's stock after purchasing an additional 30,000 shares during the period. DAVENPORT & Co LLC owned approximately 0.06% of Atlas Energy Solutions worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AESI. Quarry LP acquired a new stake in shares of Atlas Energy Solutions in the 4th quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Atlas Energy Solutions by 62.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock worth $30,000 after acquiring an additional 523 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Atlas Energy Solutions by 307.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock worth $31,000 after acquiring 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 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new stake in shares of Atlas Energy Solutions in the 1st quarter worth about $73,000. Institutional investors and hedge funds own 34.59% of the company's stock.

Insider Activity at Atlas Energy Solutions

In other news, Chairman Ben M. Brigham bought 9,635 shares of the stock in a transaction on Wednesday, May 14th. The shares were acquired at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the purchase, the chairman directly owned 572,397 shares of the company's stock, valued at $7,658,671.86. This trade represents a 1.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas G. Rogers bought 7,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $13.27 per share, for a total transaction of $92,890.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at approximately $132,700. This represents a 233.33% 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 Stock Down 1.4%

AESI opened at $14.12 on Friday. The company has a 50 day moving average of $13.43 and a 200 day moving average of $17.41. The company has a market cap of $1.75 billion, a PE ratio of 45.55 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. The company has a current ratio of 1.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.38.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate 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 period last year, the business posted $0.26 earnings per share. The firm's quarterly revenue was up 54.5% on a year-over-year basis. On average, sell-side analysts expect that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions's dividend payout ratio is presently 322.58%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AESI shares. Piper Sandler lowered their target price on shares of Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus started coverage on shares of Atlas Energy Solutions in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price on the stock. Citigroup reduced their price objective on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. The Goldman Sachs Group reduced 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. Finally, Royal Bank Of Canada reduced their price objective 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.28.

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.

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