Bank of New York Mellon Corp Increases Stock Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Bank of New York Mellon Corp grew its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 2.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 859,112 shares of the company’s stock after buying an additional 23,429 shares during the period. Bank of New York Mellon Corp owned 0.71% of Atlas Energy Solutions worth $15,327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in shares of Atlas Energy Solutions by 307.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock valued at $31,000 after acquiring an additional 1,047 shares in the last quarter. Quarry LP purchased a new position in Atlas Energy Solutions in the 4th quarter valued at about $27,000. New York State Teachers Retirement System boosted its position in Atlas Energy Solutions by 9.3% in the 1st quarter. New York State Teachers Retirement System now owns 14,161 shares of the company’s stock valued at $253,000 after buying an additional 1,200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Atlas Energy Solutions by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,630 shares of the company’s stock valued at $857,000 after buying an additional 1,354 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Atlas Energy Solutions by 1,240.1% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $35,000 after buying an additional 1,823 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Insider Activity at Atlas Energy Solutions

In related news, Chairman Ben M. Brigham bought 9,635 shares of the business’s stock in a transaction on 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 transaction, the chairman directly owned 572,397 shares in the company, valued at $7,658,671.86. This represents a 1.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas G. Rogers bought 7,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $13.27 per share, with a total value of $92,890.00. Following the transaction, the director owned 10,000 shares in the company, 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AESI has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of 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. Royal Bank Of Canada decreased their price objective on shares of 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. Stifel Nicolaus decreased their price objective on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Wednesday. Citigroup decreased their price objective on shares of 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. Finally, Piper Sandler restated a “neutral” rating and issued a $16.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.11.

Atlas Energy Solutions Trading Down 1.3%

Shares of NYSE:AESI opened at $13.43 on Friday. The company has a 50 day moving average of $13.52 and a 200-day moving average of $16.85. The firm has a market cap of $1.66 billion, a P/E ratio of 43.32 and a beta of 1.20. Atlas Energy Solutions Inc. has a twelve month low of $11.76 and a twelve month high of $26.86. 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 released 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). Atlas Energy Solutions had a net margin of 2.96% and a return on equity of 4.99%. 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 company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. As a group, analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal 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 given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 7.45%. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 322.58%.

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.