Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in Atlas Energy Solutions Inc. (NYSE:AESI)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Atlas Energy Solutions Inc. (NYSE:AESI) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 3,702 shares of the company’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. First Horizon Advisors Inc. boosted its holdings in shares of Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the period. Outfitter Financial LLC boosted its holdings in shares of Atlas Energy Solutions by 6.4% in the 1st quarter. Outfitter Financial LLC now owns 36,740 shares of the company’s stock valued at $831,000 after buying an additional 2,200 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at about $78,000. Avondale Wealth Management boosted its holdings in shares of Atlas Energy Solutions by 68.4% in the 2nd quarter. Avondale Wealth Management now owns 16,000 shares of the company’s stock valued at $319,000 after buying an additional 6,500 shares during the period. Finally, Bessemer Group Inc. bought a new stake in Atlas Energy Solutions in the 1st quarter valued at about $154,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AESI. Benchmark restated a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price target on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Bank of America decreased their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Atlas Energy Solutions has an average rating of “Buy” and a consensus target price of $26.25.

Atlas Energy Solutions Stock Up 0.2 %

AESI opened at $19.91 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The company has a market capitalization of $1.99 billion, a PE ratio of 11.06, a P/E/G ratio of 6.05 and a beta of 0.56. The stock’s fifty day moving average is $20.40 and its 200-day moving average is $21.36. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business had revenue of $287.52 million during the quarter, compared to the consensus estimate of $270.55 million. During the same quarter last year, the firm posted $0.69 earnings per share. Atlas Energy Solutions’s revenue was up 77.7% compared to the same quarter last year. On average, equities analysts predict that Atlas Energy Solutions Inc. will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.23 dividend. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Thursday, August 15th. Atlas Energy Solutions’s payout ratio is presently 51.11%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the sale, the insider now directly owns 951,888 shares of the company’s stock, valued at $19,247,175.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Gregory M. Shepard acquired 60,393 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $19.05 per share, with a total value of $1,150,486.65. Following the purchase, the insider now owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.22, for a total transaction of $173,305.62. Following the sale, the insider now directly owns 951,888 shares in the company, valued at $19,247,175.36. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 134,526 shares of company stock valued at $2,611,884 and sold 25,716 shares valued at $513,205. 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.