Rhumbline Advisers Purchases 58,981 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Rhumbline Advisers increased its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 230.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,612 shares of the company’s stock after purchasing an additional 58,981 shares during the period. Rhumbline Advisers owned approximately 0.08% of Atlas Energy Solutions worth $1,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AESI. First Horizon Advisors Inc. raised its stake in Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Atlas Energy Solutions during the second quarter valued at approximately $74,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Atlas Energy Solutions during the first quarter valued at approximately $78,000. nVerses Capital LLC bought a new stake in shares of Atlas Energy Solutions during the second quarter valued at approximately $106,000. Finally, Bessemer Group Inc. bought a new stake in shares of Atlas Energy Solutions during the first quarter valued at approximately $154,000. Institutional investors own 34.59% of the company’s stock.

Insider Activity

In other news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Gregory M. Shepard acquired 30,013 shares of Atlas Energy Solutions stock in a transaction that occurred on Tuesday, July 2nd. The stock was purchased at an average cost of $19.60 per share, with a total value of $588,254.80. Following the purchase, the insider now owns 7,499,949 shares in the company, valued at $146,999,000.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the 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 transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at $18,338,082.48. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 74,133 shares of company stock worth $1,461,398 and have sold 34,287 shares worth $679,825. Insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Trading Up 1.7 %

Atlas Energy Solutions stock opened at $22.66 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12 month low of $15.55 and a 12 month high of $24.93. The stock’s 50 day simple moving average is $20.54 and its two-hundred day simple moving average is $21.45. The firm has a market cap of $2.27 billion, a PE ratio of 12.59, a P/E/G ratio of 5.92 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data 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 company had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. During the same quarter in the prior year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 77.7% on a year-over-year basis. Analysts anticipate that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, August 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.06%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 51.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AESI shares. Stephens reiterated an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. The Goldman Sachs Group reduced their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Piper Sandler reduced their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Benchmark restated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reduced their price target on shares of Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Atlas Energy Solutions currently has a consensus rating of “Buy” and a consensus 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.