Vest Financial LLC trimmed its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 72.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,135 shares of the company's stock after selling 83,629 shares during the quarter. Vest Financial LLC's holdings in Atlas Energy Solutions were worth $555,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AESI. Prudential Financial Inc. purchased a new stake in Atlas Energy Solutions in the 4th quarter valued at about $1,366,000. Louisiana State Employees Retirement System purchased a new stake in shares of Atlas Energy Solutions in the 4th quarter valued at $650,000. Northern Trust Corp lifted its stake in Atlas Energy Solutions by 11.8% during the 4th quarter. Northern Trust Corp now owns 898,253 shares of the company's stock worth $19,923,000 after acquiring an additional 94,949 shares in the last quarter. Vanguard Group Inc. lifted its stake in Atlas Energy Solutions by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock worth $153,382,000 after acquiring an additional 773,035 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Atlas Energy Solutions by 15.5% during the 4th quarter. Sei Investments Co. now owns 213,857 shares of the company's stock valued at $4,744,000 after acquiring an additional 28,639 shares during the period. Hedge funds and other institutional investors own 34.59% of the company's stock.
Atlas Energy Solutions Stock Up 0.3%
AESI stock traded up $0.04 during midday trading on Thursday, reaching $14.42. 1,181,397 shares of the company were exchanged, compared to its average volume of 1,378,396. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 18.25 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions Inc. has a 1-year low of $11.76 and a 1-year high of $26.86. The stock's 50-day simple moving average is $13.34 and its 200 day simple moving average is $18.51.
Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly 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). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $297.59 million for the quarter, compared to analyst estimates of $291.13 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. Atlas Energy Solutions's revenue was up 54.5% compared to the same quarter last year. On average, equities analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.
Atlas Energy Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.93%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions's payout ratio is currently 322.58%.
Analyst Upgrades and Downgrades
Several brokerages have commented on AESI. Citigroup decreased their price target 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. Royal Bank of Canada decreased their target price on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Barclays lowered their target price on Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Piper Sandler reduced their price target on 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. Finally, Stifel Nicolaus assumed coverage on Atlas Energy Solutions in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective for the company. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Atlas Energy Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $19.28.
Read Our Latest Research Report on Atlas Energy Solutions
Insider Activity at Atlas Energy Solutions
In other news, Chairman Ben M. Brigham acquired 9,635 shares of Atlas Energy Solutions stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the purchase, the chairman now owns 572,397 shares in the company, valued at $7,658,671.86. This represents a 1.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas G. Rogers bought 7,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $132,700. This trade represents a 233.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.98% of the company's stock.
Atlas Energy Solutions Company Profile
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Free Report)
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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