Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Chad M. Mcever Sells 100,000 Shares

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Chad M. Mcever sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total value of $2,455,000.00. Following the completion of the sale, the insider now directly owns 451,755 shares in the company, valued at $11,090,585.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlas Energy Solutions Trading Up 0.7 %

AESI opened at $23.89 on Friday. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 3.74 and a beta of 0.66. The company’s 50 day simple moving average is $22.80 and its two-hundred day simple moving average is $19.43. Atlas Energy Solutions Inc. has a 1-year low of $15.28 and a 1-year high of $24.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). The company had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $196.39 million. Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. Analysts expect that Atlas Energy Solutions Inc. will post 1.86 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were given a dividend of $0.22 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.68%. Atlas Energy Solutions’s payout ratio is presently 35.56%.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Atlas Energy Solutions in the 3rd quarter valued at approximately $292,000. Bank of New York Mellon Corp lifted its holdings in Atlas Energy Solutions by 20.6% in the third quarter. Bank of New York Mellon Corp now owns 57,602 shares of the company’s stock valued at $1,280,000 after acquiring an additional 9,833 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in Atlas Energy Solutions in the third quarter worth approximately $629,000. Ieq Capital LLC acquired a new stake in Atlas Energy Solutions during the third quarter worth $269,000. Finally, Flputnam Investment Management Co. purchased a new stake in Atlas Energy Solutions in the third quarter valued at $227,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AESI has been the topic of a number of recent analyst reports. Raymond James increased their target price on 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. Barclays boosted their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Royal Bank of Canada lifted their price objective on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a report on Thursday, March 14th. They set a “buy” rating and a $24.00 target price for the company. Finally, Benchmark started coverage on Atlas Energy Solutions in a research note on Thursday. They issued a “buy” rating and a $27.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $25.43.

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.