State Street Corp Purchases 227,776 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

State Street Corp increased its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 15.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,751,059 shares of the company’s stock after purchasing an additional 227,776 shares during the period. State Street Corp’s holdings in Atlas Energy Solutions were worth $38,173,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AESI. Amalgamated Bank grew its stake in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after buying an additional 1,801 shares in the last quarter. Quest Partners LLC purchased a new position in Atlas Energy Solutions in the third quarter worth about $48,000. FMR LLC raised its position in Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after purchasing an additional 1,355 shares during the period. CWM LLC lifted its stake in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Atlas Energy Solutions in the 2nd quarter worth approximately $74,000. Institutional investors own 34.59% of the company’s stock.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the sale, the insider now owns 542,010 shares of the company’s stock, valued at $11,111,205. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $21.49, for a total value of $184,190.79. Following the completion of the transaction, the insider now owns 934,746 shares in the company, valued at $20,087,691.54. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 60,869 shares of company stock worth $1,187,983 and have sold 133,213 shares worth $2,959,311. Insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Trading Up 0.5 %

Shares of NYSE AESI opened at $21.44 on Friday. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93. The firm has a market cap of $2.36 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. The business has a fifty day simple moving average of $21.45 and a two-hundred day simple moving average of $20.98. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was up 93.1% compared to the same quarter last year. Analysts expect that Atlas Energy Solutions Inc. will post 0.88 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, November 14th. Stockholders of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Citigroup downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Barclays lowered Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

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.