Insider Buying: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Purchases $802,726.08 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Gregory M. Shepard purchased 40,872 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average cost of $19.64 per share, for a total transaction of $802,726.08. Following the completion of the acquisition, the insider now directly owns 7,445,069 shares of the company’s stock, valued at approximately $146,221,155.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlas Energy Solutions Price Performance

AESI stock opened at $19.93 on Friday. The business’s 50-day moving average is $22.10 and its two-hundred day moving average is $20.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05. The firm has a market capitalization of $1.99 billion, a P/E ratio of 11.07, a P/E/G ratio of 2.87 and a beta of 0.73. Atlas Energy Solutions Inc. has a 1 year low of $15.55 and a 1 year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The firm had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Analysts anticipate that Atlas Energy Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.42%. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 15th. Atlas Energy Solutions’s payout ratio is 35.56%.

Institutional Investors Weigh In On Atlas Energy Solutions

Several institutional investors have recently added to or reduced their stakes in AESI. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $78,000. Boston Partners increased its position in shares of Atlas Energy Solutions by 33.1% during the first quarter. Boston Partners now owns 39,033 shares of the company’s stock worth $883,000 after purchasing an additional 9,697 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Atlas Energy Solutions in the 1st quarter valued at about $1,985,000. California State Teachers Retirement System grew its stake in Atlas Energy Solutions by 575.2% during the 1st quarter. California State Teachers Retirement System now owns 19,784 shares of the company’s stock worth $448,000 after buying an additional 16,854 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Atlas Energy Solutions by 26.9% during the first quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock worth $57,392,000 after buying an additional 537,927 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. The Goldman Sachs Group raised their target price on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Barclays boosted their price target on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Benchmark assumed coverage on Atlas Energy Solutions in a research note on Thursday, May 23rd. They set a “buy” rating and a $27.00 target price for the company. Finally, Raymond James lifted their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Buy” and an average price target of $26.00.

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.