Atlas Energy Solutions Inc. (NYSE:AESI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,114 shares of the company’s stock after selling 1,184 shares during the period. The Manufacturers Life Insurance Company’s holdings in Atlas Energy Solutions were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in AESI. First Trust Advisors LP boosted its stake in shares of Atlas Energy Solutions by 31.5% during the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company’s stock worth $86,697,000 after buying an additional 935,410 shares during the period. Vanguard Group Inc. boosted its stake 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 worth $153,382,000 after buying an additional 773,035 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Atlas Energy Solutions by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company’s stock worth $75,197,000 after buying an additional 689,846 shares during the period. Voss Capital LP acquired a new stake in shares of Atlas Energy Solutions during the fourth quarter worth about $11,513,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Atlas Energy Solutions by 280.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 631,045 shares of the company’s stock worth $13,998,000 after buying an additional 465,044 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Price Performance

AESI stock opened at $13.23 on Thursday. The firm has a 50 day moving average of $15.24 and a 200-day moving average of $19.59. Atlas Energy Solutions Inc. has a 12-month low of $11.76 and a 12-month high of $26.86. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 16.75 and a beta of 1.34.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $297.59 million for the quarter, compared to analyst estimates of $291.13 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. Atlas Energy Solutions’s revenue was up 54.5% on a year-over-year basis. As a group, equities analysts expect that Atlas Energy Solutions Inc. will post 0.83 EPS for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.56%. Atlas Energy Solutions’s payout ratio is 322.58%.

Insider Activity

In related news, major shareholder Gregory M. Shepard acquired 32,155 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the transaction, the insider now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.98% of the company’s stock.

Analysts Set New Price Targets

AESI has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Citigroup lowered their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday. Benchmark lowered their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Stephens lifted their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, Piper Sandler lowered their price objective on Atlas Energy Solutions from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Six 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.81.

Atlas Energy Solutions 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.