Meridian Wealth Advisors LLC Invests $21.80 Million in Atlas Energy Solutions Inc. (NYSE:AESI)

Meridian Wealth Advisors LLC acquired a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,265,675 shares of the company's stock, valued at approximately $21,795,000. Atlas Energy Solutions makes up approximately 4.8% of Meridian Wealth Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Meridian Wealth Advisors LLC owned 1.27% of Atlas Energy Solutions at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tucker Asset Management LLC acquired a new position in shares of Atlas Energy Solutions in the 3rd quarter worth approximately $49,000. Barclays PLC lifted its stake in Atlas Energy Solutions by 79.4% in the third quarter. Barclays PLC now owns 5,996 shares of the company's stock valued at $134,000 after buying an additional 2,654 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Atlas Energy Solutions during the 3rd quarter worth about $81,000. PNC Financial Services Group Inc. increased its stake in shares of Atlas Energy Solutions by 1,328.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company's stock worth $124,000 after purchasing an additional 5,181 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Atlas Energy Solutions by 20.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,602 shares of the company's stock valued at $1,280,000 after acquiring an additional 9,833 shares during the period. Institutional investors and hedge funds own 34.59% of the company's stock.

Atlas Energy Solutions Stock Performance

Shares of AESI stock traded up $0.34 on Thursday, hitting $23.02. The company had a trading volume of 752,491 shares, compared to its average volume of 763,050. The firm has a market cap of $2.30 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.54 and a beta of 0.66. The company has a quick ratio of 3.21, a current ratio of 3.44 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $22.11 and a 200-day moving average price of $19.09. Atlas Energy Solutions Inc. has a twelve month low of $15.28 and a twelve month high of $24.69.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The company had revenue of $192.67 million during the quarter, compared to analyst estimates of $196.39 million. During the same period last year, the business earned $0.03 earnings per share. The firm's revenue was up 25.6% compared to the same quarter last year. As a group, equities research analysts predict that Atlas Energy Solutions Inc. will post 2.93 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 15th. Atlas Energy Solutions's payout ratio is presently 40.76%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AESI shares. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a report on Thursday, March 14th. They set a "buy" rating and a $24.00 price objective for the company. Barclays upped their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. Royal Bank of Canada raised their target price on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 28th. Finally, Raymond James raised their price objective on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a "strong-buy" rating in a research note on Tuesday, April 16th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $25.17.

Insider Buying and Selling at Atlas Energy Solutions

In related news, CFO John Gregory Turner sold 3,728 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.58, for a total value of $84,178.24. Following the sale, the chief financial officer now directly owns 1,582,303 shares in the company, valued at approximately $35,728,401.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO John Gregory Turner sold 3,728 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.58, for a total transaction of $84,178.24. Following the completion of the sale, the chief financial officer now owns 1,582,303 shares of the company's stock, valued at approximately $35,728,401.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now directly owns 970,738 shares of the company's stock, valued at approximately $19,385,637.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,860 shares of company stock valued at $5,332,121. 24.34% of the stock is owned by company insiders.

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.