49 Wealth Management LLC Invests $229,000 in Atlas Energy Solutions Inc. (NYSE:AESI)

49 Wealth Management LLC purchased a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,834 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors have also modified their holdings of AESI. Bank of New York Mellon Corp grew its stake in shares of Atlas Energy Solutions by 75.5% during the fourth quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company’s stock worth $18,535,000 after acquiring an additional 359,420 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Atlas Energy Solutions during the fourth quarter worth about $204,000. Charles Schwab Investment Management Inc. grew its stake in shares of Atlas Energy Solutions by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 552,915 shares of the company’s stock worth $12,264,000 after acquiring an additional 34,346 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Atlas Energy Solutions during the fourth quarter worth about $495,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Atlas Energy Solutions during the fourth quarter worth about $2,203,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Trading Up 6.4%

Shares of NYSE:AESI opened at $14.41 on Wednesday. Atlas Energy Solutions Inc. has a 12-month low of $11.76 and a 12-month high of $26.86. The company has a market capitalization of $1.78 billion, a PE ratio of 46.48 and a beta of 1.20. The business has a 50 day moving average of $13.42 and a two-hundred day moving average of $17.31. The company has a current ratio of 1.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.38.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. The company had revenue of $297.59 million during the quarter, compared to analyst estimates of $291.13 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 54.5% compared to the same quarter last year. As a group, analysts forecast that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend was Thursday, May 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 322.58%.

Insider Buying and Selling

In other Atlas Energy Solutions news, Chairman Ben M. Brigham acquired 9,635 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the transaction, the chairman directly owned 572,397 shares of the company’s stock, valued at $7,658,671.86. This represents a 1.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas G. Rogers acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average price of $13.27 per share, with a total value of $92,890.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $132,700. This represents a 233.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank Of Canada decreased their target price on Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Citigroup decreased their target price on Atlas Energy Solutions from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. The Goldman Sachs Group decreased their target price on Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Piper Sandler decreased their target price on Atlas Energy Solutions from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, Stifel Nicolaus assumed coverage on Atlas Energy Solutions in a report on Wednesday, May 21st. They set a “buy” rating and a $15.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.28.

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.