Russell Investments Group Ltd. Cuts Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Russell Investments Group Ltd. reduced its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 16.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,774 shares of the company’s stock after selling 24,552 shares during the quarter. Russell Investments Group Ltd.’s holdings in Atlas Energy Solutions were worth $2,856,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Atlas Energy Solutions by 12.6% during the fourth quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company’s stock valued at $153,382,000 after buying an additional 773,035 shares during the last quarter. Copeland Capital Management LLC raised its position in Atlas Energy Solutions by 19.3% in the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock worth $49,856,000 after buying an additional 363,742 shares during the last quarter. State Street Corp lifted its stake in Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after acquiring an additional 227,776 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Atlas Energy Solutions by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock valued at $31,579,000 after acquiring an additional 54,321 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Atlas Energy Solutions by 7.7% in the fourth quarter. Wellington Management Group LLP now owns 855,405 shares of the company’s stock worth $18,973,000 after acquiring an additional 61,185 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $14.12 on Friday. 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 stock has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $20.55. The firm has a market capitalization of $1.72 billion, a PE ratio of 17.87 and a beta of 1.20. Atlas Energy Solutions Inc. has a 52-week low of $12.41 and a 52-week high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a $0.25 dividend. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Friday, February 21st. Atlas Energy Solutions’s dividend payout ratio is presently 178.57%.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now directly owns 897,604 shares of the company’s stock, valued at approximately $20,196,090. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total transaction of $119,400.00. Following the sale, the insider now directly owns 382,010 shares of the company’s stock, valued at approximately $9,122,398.80. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock valued at $650,150 over the last three months. Corporate insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AESI. Piper Sandler began coverage on shares of Atlas Energy Solutions in a research report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 price objective on the stock. The Goldman Sachs Group lowered their price target on Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Bank of America reaffirmed a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a report on Monday, January 13th. Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Barclays dropped their target price on 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. Six investment 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. Based on data from MarketBeat.com, the stock currently has an average 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.