Geode Capital Management LLC Acquires 54,321 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Geode Capital Management LLC raised its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,448,340 shares of the company’s stock after buying an additional 54,321 shares during the quarter. Geode Capital Management LLC owned about 1.31% of Atlas Energy Solutions worth $31,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp grew its stake in Atlas Energy Solutions by 28.6% during the third quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock valued at $2,761,000 after acquiring an additional 28,158 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Atlas Energy Solutions by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock valued at $11,305,000 after purchasing an additional 25,999 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Atlas Energy Solutions during the 3rd quarter valued at about $844,000. State Street Corp grew its position in shares of Atlas Energy Solutions by 15.0% during the third quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after purchasing an additional 227,776 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Atlas Energy Solutions in the third quarter worth about $17,314,000. Institutional investors own 34.59% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Gregory M. Shepard acquired 13,363 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $19.19 per share, with a total value of $256,435.97. Following the completion of the purchase, the insider now directly owns 7,619,055 shares in the company, valued at $146,209,665.45. This trade represents a 0.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the sale, the insider now directly owns 917,604 shares of the company’s stock, valued at approximately $20,691,970.20. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 60,869 shares of company stock valued at $1,187,983 and have sold 133,213 shares valued at $2,959,311. 24.34% of the stock is currently owned by insiders.

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock opened at $22.22 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The firm has a market capitalization of $2.45 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. Atlas Energy Solutions Inc. has a 1-year low of $15.55 and a 1-year high of $24.93. The company’s 50-day moving average is $21.58 and its 200 day moving average is $20.97.

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

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.32%. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Pickering Energy Partners downgraded shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They set a “neutral” rating and a $23.00 target price on the stock. Four 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.67.

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.