Clearbridge Investments LLC Has $45.25 Million Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Clearbridge Investments LLC trimmed its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,270,341 shares of the company’s stock after selling 34,930 shares during the period. Clearbridge Investments LLC’s holdings in Atlas Energy Solutions were worth $45,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AESI. First Horizon Advisors Inc. grew its position 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 purchasing an additional 1,308 shares during the period. Amalgamated Bank raised its holdings in shares of 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 acquiring an additional 1,801 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Atlas Energy Solutions in the 2nd quarter valued at $74,000. DekaBank Deutsche Girozentrale acquired a new position in Atlas Energy Solutions in the 1st quarter worth $78,000. Finally, nVerses Capital LLC bought a new position in Atlas Energy Solutions during the 2nd quarter worth about $106,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Price Performance

Shares of Atlas Energy Solutions stock opened at $22.44 on Friday. The company has a 50-day simple moving average of $20.73 and a two-hundred day simple moving average of $21.53. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 6.95 and a beta of 0.56. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The company 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. The company’s quarterly revenue was up 77.7% on a year-over-year basis. Analysts forecast that Atlas Energy Solutions Inc. will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a $0.23 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 51.11%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Stacy Hock sold 8,571 shares of the company’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 completion of the sale, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Gregory M. Shepard bought 3,248 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $21.68 per share, for a total transaction of $70,416.64. Following the transaction, the insider now directly owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. The disclosure for this purchase can be found here. Insiders sold a total of 25,713 shares of company stock valued at $510,403 over the last quarter. 24.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Atlas Energy Solutions Company 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.