Royce & Associates LP Takes Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Royce & Associates LP acquired a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 225,000 shares of the company’s stock, valued at approximately $4,990,000. Royce & Associates LP owned approximately 0.20% of Atlas Energy Solutions as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC increased its holdings in shares of Atlas Energy Solutions by 62.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Atlas Energy Solutions by 191.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after acquiring an additional 1,276 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Atlas Energy Solutions during the third quarter valued at approximately $48,000. Promus Capital LLC bought a new stake in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $55,000. Finally, FMR LLC grew its holdings in Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after buying an additional 1,355 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AESI. Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price target for the company. Piper Sandler began coverage on Atlas Energy Solutions in a report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 price target for the company. Barclays decreased their price target on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Bank of America reiterated a “neutral” rating and set a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Atlas Energy Solutions Stock Up 1.2 %

Shares of NYSE:AESI opened at $18.33 on Thursday. The company has a market capitalization of $2.23 billion, a PE ratio of 23.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The business has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $21.42. Atlas Energy Solutions Inc. has a 1 year low of $16.98 and a 1 year high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio is currently 178.57%.

Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the insider now owns 404,510 shares of the company’s stock, valued at $9,303,730. This represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gregory M. Shepard acquired 32,155 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the acquisition, the insider now directly owns 7,651,210 shares in the company, valued at $145,679,038.40. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 50,000 shares of company stock valued at $1,164,750 in the last 90 days. Insiders own 24.34% of the company’s stock.

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.