Thrivent Financial for Lutherans Makes New Investment in Atlas Energy Solutions Inc. (NYSE:AESI)

Thrivent Financial for Lutherans bought a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,856 shares of the company's stock, valued at approximately $1,039,000.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in Atlas Energy Solutions in the third quarter valued at about $17,314,000. First Sabrepoint Capital Management LP purchased a new stake in shares of Atlas Energy Solutions during the 3rd quarter valued at about $8,066,000. Copeland Capital Management LLC lifted its position in Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock worth $49,856,000 after acquiring an additional 363,742 shares in the last quarter. Bank of New York Mellon Corp grew its position in Atlas Energy Solutions by 75.5% in the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock valued at $18,535,000 after acquiring an additional 359,420 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Atlas Energy Solutions by 759.9% during the fourth quarter. Principal Financial Group Inc. now owns 332,916 shares of the company's stock valued at $7,384,000 after purchasing an additional 294,201 shares during the period. Hedge funds and other institutional investors own 34.59% of the company's stock.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $24.00, for a total value of $180,000.00. Following the sale, the insider now owns 397,010 shares in the company, valued at approximately $9,528,240. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Stacy Hock sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now owns 897,604 shares of the company's stock, valued at approximately $20,196,090. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $1,049,750 in the last three months. 24.34% of the stock is owned by insiders.

Atlas Energy Solutions Stock Performance

AESI stock traded down $2.02 during trading on Friday, hitting $13.79. 3,142,641 shares of the company's stock traded hands, compared to its average volume of 1,179,412. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.46 and a beta of 1.20. Atlas Energy Solutions Inc. has a 52 week low of $13.14 and a 52 week high of $26.86. The stock has a fifty day moving average price of $19.76 and a two-hundred day moving average price of $21.18. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. As a group, equities analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 7.25%. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's payout ratio is currently 178.57%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AESI. Benchmark dropped their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Barclays cut their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday. Finally, Raymond James downgraded shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.83.

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.