Invesco Ltd. Buys 167,701 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Invesco Ltd. increased its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 43.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 549,829 shares of the company’s stock after purchasing an additional 167,701 shares during the quarter. Invesco Ltd. owned approximately 0.50% of Atlas Energy Solutions worth $12,195,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Atlas Energy Solutions by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company’s stock worth $153,382,000 after buying an additional 773,035 shares during the last quarter. Copeland Capital Management LLC grew its stake in shares of Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after acquiring an additional 363,742 shares during the period. Geode Capital Management LLC increased its holdings in Atlas Energy Solutions by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock worth $31,579,000 after acquiring an additional 54,321 shares during the last quarter. Wellington Management Group LLP raised its stake in Atlas Energy Solutions by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock valued at $18,973,000 after acquiring an additional 61,185 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Atlas Energy Solutions by 75.5% during the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company’s stock valued at $18,535,000 after purchasing an additional 359,420 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Down 3.2 %

Shares of NYSE AESI opened at $13.68 on Tuesday. The business has a 50-day moving average of $17.41 and a 200-day moving average of $20.40. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.32 and a beta of 1.20. 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 Inc. has a 12 month low of $12.41 and a 12 month high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company had revenue of $271.34 million during the quarter, compared to the consensus estimate of $272.94 million. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 7.31%. Atlas Energy Solutions’s dividend payout ratio is 178.57%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction on Monday, January 27th. The shares were sold at an average price of $24.46, for a total value of $305,750.00. Following the transaction, the insider now owns 362,010 shares in the company, valued at $8,854,764.60. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $19.04 per share, with a total value of $612,231.20. Following the completion of the transaction, the insider now owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. This trade represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 27,500 shares of company stock valued at $650,150. Corporate insiders own 15.98% of the company’s stock.

Wall Street Analysts Forecast Growth

AESI has been the topic of several research reports. Barclays lowered their price target on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Benchmark cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Finally, Piper Sandler began coverage on Atlas Energy Solutions in a report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 target price for the company. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $22.44.

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.