Wellington Management Group LLP Acquires New Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Wellington Management Group LLP bought a new position in Atlas Energy Solutions Inc. (NYSE:AESI) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 794,220 shares of the company’s stock, valued at approximately $17,314,000.

Several other institutional investors and hedge funds have also made changes to their positions in AESI. First Horizon Advisors Inc. lifted 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 in the last quarter. Amalgamated Bank raised its holdings in shares of Atlas Energy Solutions by 328.1% during the 2nd 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. Quest Partners LLC acquired a new position in shares of Atlas Energy Solutions during the 3rd quarter valued at about $48,000. FMR LLC grew its holdings in shares of Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the period. Finally, CWM LLC raised its stake in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after purchasing an additional 886 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Trading Up 2.4 %

Shares of AESI stock opened at $23.16 on Friday. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The company has a 50 day moving average price of $21.42 and a 200 day moving average price of $21.01. The stock has a market capitalization of $2.55 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s revenue was up 93.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Equities research analysts predict that Atlas Energy Solutions Inc. will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.15%. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 12,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.95, for a total value of $299,375.00. Following the sale, the insider now directly owns 419,510 shares in the company, valued at $10,047,264.50. This trade represents a 2.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Gregory M. Shepard purchased 23,300 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $19.55 per share, with a total value of $455,515.00. Following the completion of the acquisition, the insider now directly owns 7,540,306 shares in the company, valued at $147,412,982.30. The trade was a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 119,642 shares worth $2,650,185. Insiders own 24.34% of the company’s stock.

Wall Street Analyst Weigh In

AESI has been the subject of several analyst reports. Barclays downgraded shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $23.00 to $19.00 in a report on Tuesday, November 12th. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research report on Friday. They issued a “neutral” rating and a $23.00 target price on the stock. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

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.