Atlas Energy Solutions Inc. (NYSE:AESI) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,952 shares of the company’s stock after purchasing an additional 63,036 shares during the period. Principal Financial Group Inc. owned 0.33% of Atlas Energy Solutions worth $7,064,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Atlas Energy Solutions by 6.6% in the 4th 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 Atlas Energy Solutions during the fourth quarter valued at $495,000. Raymond James Financial Inc. acquired a new stake in Atlas Energy Solutions during the fourth quarter valued at $2,203,000. Avantax Advisory Services Inc. boosted its position in Atlas Energy Solutions by 22.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 28,509 shares of the company’s stock valued at $632,000 after purchasing an additional 5,183 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of Atlas Energy Solutions in the fourth quarter worth about $4,990,000. Institutional investors own 34.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $16.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday. Stifel Nicolaus assumed coverage on Atlas Energy Solutions in a research report on Wednesday, May 21st. They issued a “buy” rating and a $15.00 price target for the company. Citigroup reduced their price target on Atlas Energy Solutions from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. The Goldman Sachs Group reduced their price target on Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada reduced their price target on Atlas Energy Solutions from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.17.

Atlas Energy Solutions Price Performance

NYSE AESI opened at $13.40 on Wednesday. Atlas Energy Solutions Inc. has a twelve month low of $11.76 and a twelve month high of $26.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.40 and a current ratio of 1.62. The stock has a market capitalization of $1.66 billion, a PE ratio of 43.21 and a beta of 1.20. The stock has a 50-day simple moving average of $13.45 and a 200 day simple moving average of $17.03.

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

Atlas Energy Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 7.47%. Atlas Energy Solutions’s dividend payout ratio is 322.58%.

Insider Activity

In related news, Director Douglas G. Rogers acquired 7,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $13.27 per share, for a total transaction of $92,890.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately $132,700. This trade represents a 233.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ben M. Brigham acquired 9,635 shares of the stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the purchase, the chairman owned 572,397 shares in the company, valued at approximately $7,658,671.86. This trade represents a 1.71% increase in their position. The disclosure for this purchase can be found here. Insiders own 15.98% of the company’s stock.

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.