Intech Investment Management LLC Takes Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Intech Investment Management LLC acquired a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,835 shares of the company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Beck Capital Management LLC increased 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 purchasing an additional 749 shares in the last quarter. CWM LLC increased its position in Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares in the last quarter. Cetera Investment Advisers increased its position in Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock worth $1,767,000 after purchasing an additional 897 shares in the last quarter. First Horizon Advisors Inc. increased 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 purchasing an additional 1,308 shares in the last quarter. Finally, Amalgamated Bank increased 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 purchasing an additional 1,801 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total value of $184,190.79. Following the sale, the insider now directly owns 934,746 shares of the company’s stock, valued at $20,087,691.54. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now directly owns 542,010 shares in the company, valued at $11,111,205. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 60,869 shares of company stock valued at $1,187,983 and have sold 115,713 shares valued at $2,517,431. Corporate insiders own 24.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $21.00 in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. Finally, Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.44.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $23.47 on Thursday. The stock has a market cap of $2.59 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 11.85 and a beta of 0.96. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $21.29 and a 200-day moving average of $21.07. Atlas Energy Solutions Inc. has a 52 week low of $15.55 and a 52 week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The business had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business’s quarterly revenue was up 93.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. On average, analysts expect that Atlas Energy Solutions Inc. will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.24 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

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.