The Manufacturers Life Insurance Company Cuts Position in Atlas Energy Solutions Inc. (NYSE:AESI)

The Manufacturers Life Insurance Company decreased its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,114 shares of the company’s stock after selling 1,184 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Atlas Energy Solutions were worth $868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Atlas Energy Solutions in the fourth quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the period. Tower Research Capital LLC TRC raised its position in Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock valued at $31,000 after purchasing an additional 1,047 shares during the period. Global Retirement Partners LLC raised its position in Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock valued at $43,000 after purchasing an additional 1,276 shares during the period. Finally, Promus Capital LLC purchased a new stake in Atlas Energy Solutions in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $13.23 on Thursday. The firm has a market capitalization of $1.61 billion, a PE ratio of 16.75 and a beta of 1.34. The business’s fifty day moving average price is $15.24 and its 200 day moving average price is $19.59. 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 12 month low of $11.76 and a 12 month high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). The business had revenue of $297.59 million during the quarter, compared to analysts’ expectations of $291.13 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. On average, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.56%. The ex-dividend date is Thursday, May 15th. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 322.58%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard acquired 32,155 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now directly owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. The trade was a 0.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 15.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AESI. Piper Sandler cut their price objective on Atlas Energy Solutions from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group cut their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Stephens upped their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Royal Bank of Canada cut their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays cut their price objective on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.81.

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.