Principal Financial Group Inc. Purchases 294,201 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Principal Financial Group Inc. grew its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 759.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 332,916 shares of the company’s stock after purchasing an additional 294,201 shares during the quarter. Principal Financial Group Inc. owned approximately 0.30% of Atlas Energy Solutions worth $7,384,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions in the third quarter valued at approximately $48,000. FMR LLC increased its position in Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after acquiring an additional 1,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Atlas Energy Solutions by 55.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,745 shares of the company’s stock worth $125,000 after acquiring an additional 2,043 shares during the period. Emerald Advisers LLC increased its position in Atlas Energy Solutions by 28.4% during the third quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after acquiring an additional 2,400 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Atlas Energy Solutions during the third quarter worth $253,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Down 0.8 %

Shares of NYSE:AESI opened at $19.38 on Friday. Atlas Energy Solutions Inc. has a 52 week low of $17.49 and a 52 week high of $26.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The company’s fifty day moving average is $22.33 and its 200-day moving average is $21.67. The company has a market capitalization of $2.14 billion, a PE ratio of 24.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. Equities research analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.16%. The ex-dividend date was Friday, February 21st. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s payout ratio is currently 178.57%.

Insider Activity

In related news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the completion of the transaction, the insider now directly owns 917,604 shares of the company’s stock, valued at $20,691,970.20. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.95, for a total value of $299,375.00. Following the completion of the transaction, the insider now directly owns 419,510 shares of the company’s stock, valued at $10,047,264.50. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,071 shares of company stock worth $1,773,251. Corporate insiders own 24.34% of the company’s stock.

Analyst Upgrades and Downgrades

AESI has been the topic of a number of research reports. Barclays boosted their target price on shares of Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Stephens boosted their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Citigroup lowered 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 $22.00 in a research report on Thursday, November 14th. Benchmark dropped their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Bank of America reaffirmed a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.83.

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.