Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells $427,800.00 in Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 20,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total transaction of $427,800.00. Following the sale, the insider now directly owns 512,010 shares in the company, valued at $10,951,893.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Brian Anthony Leveille also recently made the following trade(s):

• On Tuesday, October 29th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.02, for a total transaction of $210,200.00.
• On Monday, October 14th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00.

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI opened at $20.64 on Monday. The company’s fifty day moving average price is $20.89 and its 200 day moving average price is $21.12. Atlas Energy Solutions Inc. has a 12 month low of $15.55 and a 12 month high of $24.93. 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 firm has a market capitalization of $2.27 billion, a P/E ratio of 26.13, a P/E/G ratio of 11.85 and a beta of 0.69.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, sell-side analysts predict that Atlas Energy Solutions Inc. will post 0.8 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.65%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 116.46%.

Institutional Trading of Atlas Energy Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Whitebox Advisors LLC acquired a new position in Atlas Energy Solutions in the first quarter valued at $49,712,000. Price T Rowe Associates Inc. MD lifted its position in Atlas Energy Solutions by 9,759.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock worth $36,838,000 after acquiring an additional 1,611,968 shares during the period. Cooke & Bieler LP grew its stake in shares of Atlas Energy Solutions by 775.7% in the 2nd quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock valued at $33,861,000 after purchasing an additional 1,504,988 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Atlas Energy Solutions by 38.2% in the first quarter. Clearbridge Investments LLC now owns 2,305,271 shares of the company’s stock valued at $52,145,000 after purchasing an additional 636,785 shares during the period. Finally, Meridian Wealth Advisors LLC raised its stake in shares of Atlas Energy Solutions by 25.8% during the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock worth $53,362,000 after purchasing an additional 548,620 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AESI. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $21.00 in a research report on Thursday. Benchmark restated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Barclays decreased their price target on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Stephens reiterated an “overweight” rating and set a $28.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.25.

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.