MetLife Investment Management LLC Increases Position in Atlas Energy Solutions Inc. $AESI

Key Points

• MetLife Investment Management LLC significantly increased its stake in Atlas Energy Solutions by 1,215.9% during Q1, owning approximately 0.45% of the company, worth $9.8 million.
• Several hedge funds have also increased their holdings, with 34.59% of the stock now owned by institutional investors.
• Analyst ratings for Atlas Energy Solutions range from "Buy" to "Hold," with an average target price of $18.83, while recent share prices have dipped.

MetLife Investment Management LLC lifted its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 1,215.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 550,665 shares of the company's stock after buying an additional 508,819 shares during the period. MetLife Investment Management LLC owned approximately 0.45% of Atlas Energy Solutions worth $9,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its position 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 valued at $31,000 after buying an additional 1,047 shares during the last quarter. Quarry LP purchased a new position in shares of Atlas Energy Solutions in the 4th quarter valued at $27,000. New York State Teachers Retirement System grew its position in shares of Atlas Energy Solutions by 9.3% in the 1st quarter. New York State Teachers Retirement System now owns 14,161 shares of the company's stock valued at $253,000 after buying an additional 1,200 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Atlas Energy Solutions by 13.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 10,460 shares of the company's stock valued at $187,000 after buying an additional 1,277 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Atlas Energy Solutions by 6.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 22,440 shares of the company's stock valued at $400,000 after buying an additional 1,292 shares during the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on AESI shares. 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. Piper Sandler dropped their target price on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Royal Bank Of Canada dropped their target price 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, Stifel Nicolaus decreased their price target on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.83.

Atlas Energy Solutions Stock Down 1.2%

Shares of NYSE:AESI opened at $11.62 on Wednesday. The stock has a market cap of $1.44 billion, a P/E ratio of 82.97 and a beta of 1.19. The firm has a fifty day moving average price of $13.07 and a 200 day moving average price of $14.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30. Atlas Energy Solutions Inc. has a 1-year low of $10.92 and a 1-year high of $26.86.

Atlas Energy Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 8.6%. Atlas Energy Solutions's dividend payout ratio is currently 714.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.