Sei Investments Co. Purchases 71,226 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Sei Investments Co. increased its holdings in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 80.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 159,332 shares of the company’s stock after purchasing an additional 71,226 shares during the period. Sei Investments Co.’s holdings in Atlas Energy Solutions were worth $3,177,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Palogic Value Management L.P. bought a new stake in shares of Atlas Energy Solutions in the 4th quarter worth approximately $1,464,000. Vanguard Group Inc. lifted its position in Atlas Energy Solutions by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock worth $104,409,000 after purchasing an additional 33,286 shares during the period. Quantbot Technologies LP acquired a new stake in Atlas Energy Solutions during the first quarter worth $592,000. Lazard Asset Management LLC bought a new stake in Atlas Energy Solutions in the 1st quarter valued at $8,728,000. Finally, Capstone Investment Advisors LLC raised its stake in shares of Atlas Energy Solutions by 9.2% in the 1st quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company’s stock valued at $12,347,000 after buying an additional 45,859 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $19.89, for a total value of $170,477.19. Following the transaction, the insider now directly owns 960,459 shares in the company, valued at approximately $19,103,529.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $19.89, for a total value of $170,477.19. Following the completion of the sale, the insider now directly owns 960,459 shares of the company’s stock, valued at approximately $19,103,529.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 3,248 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average cost of $21.68 per share, for a total transaction of $70,416.64. Following the purchase, the insider now directly owns 7,503,197 shares in the company, 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 ninety days. Insiders own 24.34% of the company’s stock.

Wall Street Analyst Weigh In

AESI has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stephens restated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered their price target on 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. Finally, Bank of America cut their price objective on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.25.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock opened at $22.44 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. The firm has a 50 day simple moving average of $20.73 and a 200 day simple moving average of $21.53. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The firm has a market cap of $2.24 billion, a P/E ratio of 12.47, a P/E/G ratio of 6.95 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). The firm had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The company’s revenue was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Sell-side analysts predict that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current fiscal 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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is 51.11%.

Atlas Energy Solutions 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.