Evergreen Capital Management LLC Boosts Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Evergreen Capital Management LLC raised its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 25.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,085,729 shares of the company’s stock after buying an additional 222,890 shares during the quarter. Atlas Energy Solutions makes up approximately 0.8% of Evergreen Capital Management LLC’s holdings, making the stock its 21st largest holding. Evergreen Capital Management LLC owned 1.09% of Atlas Energy Solutions worth $21,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of AESI. Beck Capital Management LLC lifted its position in Atlas Energy Solutions by 0.6% during the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after acquiring an additional 749 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares in the last quarter. Amalgamated Bank lifted its position in Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after acquiring an additional 1,801 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Atlas Energy Solutions by 54.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock worth $107,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Outfitter Financial LLC lifted its position in Atlas Energy Solutions by 6.4% during the 1st quarter. Outfitter Financial LLC now owns 36,740 shares of the company’s stock worth $831,000 after acquiring an additional 2,200 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Price Performance

Shares of NYSE AESI opened at $22.66 on Monday. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 5.92 and a beta of 0.56. The business has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $21.47.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). The company had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. Atlas Energy Solutions’s quarterly revenue was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. As a group, equities research analysts expect that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $0.23 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Thursday, August 15th. Atlas Energy Solutions’s dividend payout ratio is presently 51.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AESI. Piper Sandler cut their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Bank of America cut their target price on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Tudor, Pickering, Holt & Co. began coverage on Atlas Energy Solutions in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $26.25.

Insider Buying and Selling

In related news, major shareholder Gregory M. Shepard acquired 30,013 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was purchased at an average cost of $19.60 per share, for a total transaction of $588,254.80. Following the purchase, the insider now directly owns 7,499,949 shares in the company, valued at $146,999,000.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Gregory M. Shepard acquired 3,248 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the acquisition, the insider now directly owns 7,503,197 shares in the company, valued at approximately $162,669,310.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gregory M. Shepard acquired 30,013 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was purchased at an average price of $19.60 per share, with a total value of $588,254.80. Following the acquisition, the insider now owns 7,499,949 shares of the company’s stock, valued at $146,999,000.40. The disclosure for this purchase can be found here. In the last three months, insiders purchased 74,133 shares of company stock worth $1,461,398 and sold 25,713 shares worth $510,403. 24.34% of the stock is owned by company insiders.

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.