Raymond James Financial Inc. Makes New $2.20 Million Investment in Atlas Energy Solutions Inc. (NYSE:AESI)

Raymond James Financial Inc. acquired a new stake in Atlas Energy Solutions Inc. (NYSE:AESI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 99,330 shares of the company’s stock, valued at approximately $2,203,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AESI. Stifel Financial Corp lifted its position in Atlas Energy Solutions by 28.6% in the third quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after buying an additional 28,158 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Atlas Energy Solutions in the 4th quarter worth about $650,000. Hodges Capital Management Inc. boosted its stake in shares of Atlas Energy Solutions by 44.7% during the 4th quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company’s stock worth $4,302,000 after purchasing an additional 59,940 shares during the period. Charles Schwab Investment Management Inc. raised its position in Atlas Energy Solutions by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after purchasing an additional 25,999 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Atlas Energy Solutions in the fourth quarter worth about $495,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the sale, the insider now owns 404,510 shares of the company’s stock, valued at $9,303,730. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now directly owns 897,604 shares in the company, valued at approximately $20,196,090. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $1,164,750. 24.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AESI has been the topic of a number of analyst reports. Piper Sandler initiated coverage on Atlas Energy Solutions in a research note on Wednesday, March 12th. They set an “overweight” rating and a $22.00 target price on the stock. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Bank of America reissued a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Royal Bank of Canada reduced their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Stephens boosted their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Atlas Energy Solutions Stock Down 1.7 %

Shares of Atlas Energy Solutions stock opened at $17.77 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 22.49 and a beta of 1.18. The firm’s 50-day moving average is $20.48 and its two-hundred day moving average is $21.33. Atlas Energy Solutions Inc. has a 1 year low of $16.98 and a 1 year high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The business had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. As a group, research analysts expect that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio (DPR) is 178.57%.

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.