Principal Financial Group Inc. Purchases Shares of 38,715 Atlas Energy Solutions Inc. (NYSE:AESI)

Principal Financial Group Inc. acquired a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 38,715 shares of the company’s stock, valued at approximately $844,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in Atlas Energy Solutions by 28.6% during the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after acquiring an additional 28,158 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Atlas Energy Solutions by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after purchasing an additional 25,999 shares during the period. Ashford Capital Management Inc. grew its position in Atlas Energy Solutions by 27.9% in the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock valued at $12,775,000 after buying an additional 127,910 shares in the last quarter. State Street Corp increased its stake in Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after buying an additional 227,776 shares during the period. Finally, Geode Capital Management LLC increased its stake in Atlas Energy Solutions by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company’s stock valued at $31,579,000 after buying an additional 54,321 shares during the period. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Stock Performance

Shares of AESI opened at $22.98 on Friday. The company has a 50-day moving average of $21.93 and a two-hundred day moving average of $21.07. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 11.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted 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). The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, equities research analysts expect that Atlas Energy Solutions Inc. will post 0.88 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.18%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. Atlas Energy Solutions’s payout ratio is presently 121.52%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the transaction, the insider now owns 542,010 shares in the company, valued at approximately $11,111,205. This represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gregory M. Shepard bought 1,797 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $19.65 per share, with a total value of $35,311.05. Following the purchase, the insider now directly owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 60,869 shares of company stock valued at $1,187,983 and sold 124,642 shares valued at $2,775,121. Company insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AESI has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective for the company. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, 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. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

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.