Austin Asset Management Co Inc Decreases Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Austin Asset Management Co Inc decreased its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,000 shares of the company’s stock after selling 5,000 shares during the quarter. Atlas Energy Solutions makes up approximately 0.4% of Austin Asset Management Co Inc’s portfolio, making the stock its 21st biggest position. Austin Asset Management Co Inc owned approximately 0.09% of Atlas Energy Solutions worth $1,794,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AESI. First Horizon Advisors Inc. increased its position in Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after buying an additional 1,308 shares during the period. Amalgamated Bank increased its position in Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Atlas Energy Solutions during the first quarter worth approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Atlas Energy Solutions during the second quarter worth approximately $74,000. Finally, nVerses Capital LLC acquired a new position in Atlas Energy Solutions during the second quarter worth approximately $106,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Trading Down 0.2 %

Shares of AESI stock opened at $21.71 on Thursday. The business’s fifty day moving average price is $20.48 and its 200 day moving average price is $21.42. Atlas Energy Solutions Inc. has a 1-year low of $15.55 and a 1-year high of $24.93. The firm has a market capitalization of $2.17 billion, a PE ratio of 12.06, a P/E/G ratio of 5.92 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $270.55 million. During the same period in the prior year, the company earned $0.69 EPS. The company’s revenue was up 77.7% on a year-over-year basis. As a group, sell-side analysts forecast that Atlas Energy Solutions Inc. will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.24%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s payout ratio is presently 51.11%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Gregory M. Shepard acquired 3,248 shares of Atlas Energy Solutions stock in a transaction dated Thursday, July 18th. The shares were acquired at an average cost of $21.68 per share, for a total transaction of $70,416.64. Following the completion of the transaction, the insider now directly owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the sale, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 74,133 shares of company stock worth $1,461,398 and have sold 34,287 shares worth $679,825. 24.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on AESI. Benchmark reaffirmed a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Stephens reissued an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Piper Sandler dropped their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada dropped their target price on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Atlas Energy Solutions has an average rating of “Buy” and an average target price of $26.25.

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.