Seven Grand Managers LLC Takes $4.46 Million Position in Atlas Energy Solutions Inc. $AESI

Key Points

• Seven Grand Managers LLC purchased 250,000 shares of Atlas Energy Solutions Inc., valued at approximately $4.46 million, making it the firm's 26th largest position.
• Atlas Energy Solutions announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 8.8%.
• Recent analyst ratings suggest a cautious outlook, with several firms reducing their price targets, maintaining a consensus "Hold" rating with an average target of $18.83.

Seven Grand Managers LLC bought a new stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 250,000 shares of the company's stock, valued at approximately $4,460,000. Atlas Energy Solutions makes up 1.0% of Seven Grand Managers LLC's investment portfolio, making the stock its 26th biggest position. Seven Grand Managers LLC owned approximately 0.21% of Atlas Energy Solutions as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AESI. Nuveen LLC acquired a new stake in Atlas Energy Solutions during the first quarter worth about $26,956,000. Vanguard Group Inc. raised its stake in Atlas Energy Solutions by 16.5% during the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company's stock worth $143,695,000 after acquiring an additional 1,139,352 shares during the period. Copeland Capital Management LLC raised its stake in Atlas Energy Solutions by 42.5% during the first quarter. Copeland Capital Management LLC now owns 3,203,592 shares of the company's stock worth $57,152,000 after acquiring an additional 955,818 shares during the period. First Trust Advisors LP raised its stake in Atlas Energy Solutions by 31.5% during the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock worth $86,697,000 after acquiring an additional 935,410 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in Atlas Energy Solutions during the fourth quarter worth about $17,770,000. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock traded up $0.03 on Wednesday, hitting $11.24. The company had a trading volume of 1,601,285 shares, compared to its average volume of 1,531,556. The business has a 50-day simple moving average of $13.31 and a 200-day simple moving average of $15.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30. The company has a market cap of $1.39 billion, a PE ratio of 80.29 and a beta of 1.19. Atlas Energy Solutions Inc. has a 52 week low of $10.92 and a 52 week high of $26.86.

Atlas Energy Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 8.9%. Atlas Energy Solutions's dividend payout ratio (DPR) is 714.29%.

Analyst Ratings Changes

AESI has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Stifel Nicolaus dropped their price objective on shares of Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. 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. Finally, Royal Bank Of Canada dropped 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 note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $18.83.

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.