Principal Financial Group Inc. Takes $844,000 Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Principal Financial Group Inc. acquired a new position in Atlas Energy Solutions Inc. (NYSE:AESI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 38,715 shares of the company’s stock, valued at approximately $844,000.

Several other large investors have also bought and sold shares of the company. Emerald Advisers LLC increased its stake in shares of Atlas Energy Solutions by 28.4% in the 3rd quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after acquiring an additional 2,400 shares in the last quarter. Modera Wealth Management LLC bought a new position in shares of Atlas Energy Solutions during the third quarter valued at approximately $322,000. Tectonic Advisors LLC lifted its holdings in shares of Atlas Energy Solutions by 7.5% during the third quarter. Tectonic Advisors LLC now owns 59,725 shares of the company’s stock valued at $1,302,000 after purchasing an additional 4,187 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Atlas Energy Solutions by 19.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock worth $41,072,000 after purchasing an additional 311,228 shares in the last quarter. Finally, Vest Financial LLC boosted its position in shares of Atlas Energy Solutions by 14.8% in the 3rd quarter. Vest Financial LLC now owns 65,578 shares of the company’s stock worth $1,430,000 after purchasing an additional 8,436 shares in the last quarter. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Stock Performance

AESI opened at $23.59 on Friday. The company’s 50 day moving average is $21.09 and its 200 day moving average is $21.05. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 11.90 and a beta of 0.69. Atlas Energy Solutions Inc. has a 12-month low of $15.55 and a 12-month high of $24.93. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data 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 company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company’s revenue was up 93.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities research analysts predict that Atlas Energy Solutions Inc. will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.24 per share. 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 yield of 4.07%. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 121.52%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays downgraded Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. The Goldman Sachs Group lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $21.00 in a research note on Thursday, November 7th. 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. Citigroup downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Finally, Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $24.44.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total value of $184,190.79. Following the transaction, the insider now owns 934,746 shares of the company’s stock, valued at approximately $20,087,691.54. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $205,000.00. Following the transaction, the insider now directly owns 542,010 shares of the company’s stock, valued at $11,111,205. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 75,713 shares worth $1,581,831. Company insiders own 24.34% of the company’s stock.

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.