Vanguard Group Inc. Acquires 1,139,352 Shares of Atlas Energy Solutions Inc. $AESI

Key Points

• Vanguard Group Inc. increased its position in Atlas Energy Solutions Inc. by 16.5%, now owning 6.62% of the company, valued at approximately $143.70 million.
• Several institutional investors have shown significant interest in Atlas Energy Solutions, with Fifth Third Bancorp and others increasing their stakes by over 1,000% in recent quarters.
• The company recently declared a quarterly dividend of $0.25 per share, translating to an annualized dividend yield of 8.9%, despite a high payout ratio of 714.29%.

Vanguard Group Inc. grew its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,054,677 shares of the company's stock after purchasing an additional 1,139,352 shares during the quarter. Vanguard Group Inc. owned approximately 6.62% of Atlas Energy Solutions worth $143,695,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Atlas Energy Solutions by 25.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock valued at $75,197,000 after purchasing an additional 689,846 shares during the last quarter. Copeland Capital Management LLC boosted its stake in shares of Atlas Energy Solutions by 42.5% in the 1st quarter. Copeland Capital Management LLC now owns 3,203,592 shares of the company's stock valued at $57,152,000 after purchasing an additional 955,818 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Atlas Energy Solutions by 2.3% in the 1st quarter. Cooke & Bieler LP now owns 2,600,093 shares of the company's stock valued at $46,386,000 after purchasing an additional 57,546 shares during the last quarter. Villere ST Denis J & Co. LLC boosted its stake in shares of Atlas Energy Solutions by 0.4% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 1,746,627 shares of the company's stock valued at $31,160,000 after purchasing an additional 6,904 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Atlas Energy Solutions by 11.8% in the 4th quarter. Northern Trust Corp now owns 898,253 shares of the company's stock valued at $19,923,000 after purchasing an additional 94,949 shares during the last quarter. Institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Stock Down 1.2%

AESI stock traded down $0.15 during mid-day trading on Tuesday, hitting $11.62. 1,316,744 shares of the company were exchanged, compared to its average volume of 1,551,487. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.56. The firm has a market cap of $1.44 billion, a P/E ratio of 82.97 and a beta of 1.19. The firm's 50 day simple moving average is $13.07 and its 200 day simple moving average is $14.83. 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 disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend was Thursday, August 14th. Atlas Energy Solutions's payout ratio is currently 714.29%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler reduced 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 note on Thursday, August 14th. 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 on the stock in a research note on Wednesday, May 7th. Citigroup reduced 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, Stifel Nicolaus reduced 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. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.83.

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.