Wellington Management Group LLP Grows Holdings in Atlas Energy Solutions Inc. $AESI

Key Points

• Wellington Management Group LLP increased its stake in Atlas Energy Solutions Inc. by 5.6%, holding 903,711 shares worth approximately $16.1 million as of its latest SEC filing.
• Atlas Energy Solutions announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 8.6% and a payout ratio of 714.29%.
• Analysts have adjusted their price targets for Atlas Energy Solutions, with the consensus rating being "Hold" and an average target price of $18.83.

Wellington Management Group LLP grew its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 903,711 shares of the company's stock after acquiring an additional 48,306 shares during the period. Wellington Management Group LLP owned about 0.74% of Atlas Energy Solutions worth $16,122,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Atlas Energy Solutions in the 4th quarter valued at approximately $27,000. Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 1,047 shares during the period. Fifth Third Bancorp raised its stake 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 valued at $35,000 after acquiring an additional 1,823 shares during the period. Larson Financial Group LLC raised its stake in shares of Atlas Energy Solutions by 201.8% in the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock valued at $35,000 after acquiring an additional 1,316 shares during the period. Finally, Canton Hathaway LLC purchased a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at approximately $73,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Price Performance

Shares of AESI opened at $11.62 on Wednesday. Atlas Energy Solutions Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $26.86. The firm's 50 day moving average price is $13.07 and its 200 day moving average price is $14.83. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.44 billion, a P/E ratio of 82.97 and a beta of 1.19.

Atlas Energy Solutions Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reduced their price target 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. Royal Bank Of Canada cut 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 note on Wednesday, May 7th. Stifel Nicolaus cut their target price 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. Finally, Piper Sandler cut 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. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus 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.

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