10,763 Shares in Atlas Energy Solutions Inc. (NYSE:AESI) Purchased by Arizona State Retirement System

Arizona State Retirement System purchased a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,763 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently bought and sold shares of AESI. Vanguard Group Inc. boosted its holdings in shares of Atlas Energy Solutions by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,615,793 shares of the company’s stock valued at $104,409,000 after buying an additional 33,286 shares during the last quarter. Meridian Wealth Advisors LLC raised its position in Atlas Energy Solutions by 25.8% during the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock worth $53,362,000 after acquiring an additional 548,620 shares in the last quarter. Janus Henderson Group PLC raised 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 acquiring an additional 537,927 shares in the last quarter. Whitebox Advisors LLC bought a new position in shares of Atlas Energy Solutions in the 1st quarter valued at about $49,712,000. Finally, Clearbridge Investments LLC increased its stake in shares of Atlas Energy Solutions by 38.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock worth $52,145,000 after purchasing an additional 636,785 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Gregory M. Shepard bought 40,872 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was acquired at an average cost of $19.64 per share, with a total value of $802,726.08. Following the completion of the acquisition, the insider now owns 7,445,069 shares of the company’s stock, valued at $146,221,155.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard acquired 40,872 shares of the stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $19.64 per share, for a total transaction of $802,726.08. Following the purchase, the insider now directly owns 7,445,069 shares of the company’s stock, valued at $146,221,155.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Gregory M. Shepard acquired 30,013 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were bought at an average price of $19.60 per share, with a total value of $588,254.80. Following the completion of the purchase, the insider now owns 7,499,949 shares in the company, valued at approximately $146,999,000.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 74,133 shares of company stock valued at $1,461,398 and have sold 34,287 shares valued at $679,825. 24.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank of Canada cut their price objective on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. 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. Tudor, Pickering, Holt & Co. started coverage on Atlas Energy Solutions in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Benchmark reiterated a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Stephens reissued an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $26.25.

Atlas Energy Solutions Stock Down 0.2 %

Shares of NYSE AESI opened at $21.71 on Thursday. The business has a 50-day moving average of $20.48 and a 200-day moving average of $21.42. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 5.92 and a beta of 0.56. Atlas Energy Solutions Inc. has a 12 month low of $15.55 and a 12 month high of $24.93. 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 (NYSE:AESI) last issued its earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $270.55 million. During the same quarter in the previous year, the business earned $0.69 EPS. Atlas Energy Solutions’s revenue for the quarter was up 77.7% compared to the same quarter last year. Sell-side analysts expect that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.24%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, August 15th. Atlas Energy Solutions’s payout ratio is presently 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.