Atlas Energy Solutions Inc. (NYSE:AESI) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 131.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,694 shares of the company's stock after purchasing an additional 73,202 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Atlas Energy Solutions worth $2,216,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AESI. Tucker Asset Management LLC bought a new stake in shares of Atlas Energy Solutions during the third quarter worth approximately $49,000. DekaBank Deutsche Girozentrale bought a new position in shares of Atlas Energy Solutions in the 3rd quarter worth $81,000. PNC Financial Services Group Inc. grew its stake in shares of Atlas Energy Solutions by 1,328.5% during the third 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 period. Barclays PLC increased its holdings 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 purchasing an additional 2,654 shares during the last quarter. Finally, Wealthsource Partners LLC acquired a new position in Atlas Energy Solutions in the fourth quarter valued at about $172,000. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Stock Down 1.3 %

Shares of AESI stock traded down $0.30 during trading on Wednesday, reaching $23.06. The company's stock had a trading volume of 731,368 shares, compared to its average volume of 755,452. Atlas Energy Solutions Inc. has a one year low of $15.28 and a one year high of $24.69. The business has a fifty day moving average price of $22.44 and a 200-day moving average price of $19.22. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.12). The business had revenue of $192.67 million during the quarter, compared to analyst estimates of $196.39 million. Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The firm's quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Analysts anticipate that Atlas Energy Solutions Inc. will post 2.06 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, May 15th. 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. Atlas Energy Solutions's dividend payout ratio is currently 35.56%.

Insider Activity

In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 166,710 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $21.94, for a total transaction of $3,657,617.40. Following the transaction, the insider now owns 1,140,596 shares of the company's stock, valued at $25,024,676.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the firm's 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 in the company, valued at $19,385,637.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Richard W. Schmidt sold 166,710 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $21.94, for a total value of $3,657,617.40. Following the sale, the insider now owns 1,140,596 shares of the company's stock, valued at approximately $25,024,676.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,010 shares of company stock valued at $6,507,548. 24.34% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.