Brown Brothers Harriman & Co. Reduces Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Brown Brothers Harriman & Co. trimmed its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 68.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,002 shares of the company’s stock after selling 6,506 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Atlas Energy Solutions were worth $67,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stifel Financial Corp grew its position in Atlas Energy Solutions by 28.6% in the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock valued at $2,761,000 after acquiring an additional 28,158 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Atlas Energy Solutions in the 4th quarter worth about $650,000. Hodges Capital Management Inc. boosted its position in Atlas Energy Solutions by 44.7% in the 4th quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company’s stock valued at $4,302,000 after buying an additional 59,940 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Atlas Energy Solutions by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock valued at $11,305,000 after purchasing an additional 25,999 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Atlas Energy Solutions during the 4th quarter worth $495,000. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Stock Up 1.4 %

Atlas Energy Solutions stock opened at $18.10 on Wednesday. Atlas Energy Solutions Inc. has a 1-year low of $16.98 and a 1-year high of $26.86. The business has a fifty day moving average price of $20.23 and a 200-day moving average price of $21.29. 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 stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.91 and a beta of 1.18.

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

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 5.53%. Atlas Energy Solutions’s dividend payout ratio is presently 178.57%.

Insiders Place Their Bets

In other news, major shareholder Gregory M. Shepard acquired 32,155 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $19.04 per share, with a total value of $612,231.20. Following the completion of the acquisition, the insider now owns 7,651,210 shares of the company’s stock, valued at approximately $145,679,038.40. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Stacy Hock sold 10,000 shares of Atlas Energy Solutions stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $21.96, for a total value of $219,600.00. Following the sale, the insider now directly owns 907,604 shares of the company’s stock, valued at $19,930,983.84. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $1,164,750. Insiders own 24.34% of the company’s stock.

Wall Street Analyst Weigh In

AESI has been the subject of several research reports. Royal Bank of Canada lowered their target price on Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 target price on the stock. Barclays reduced their price target on shares of 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. Piper Sandler initiated coverage on shares of Atlas Energy Solutions in a report on Wednesday, March 12th. They set an “overweight” rating and a $22.00 price objective on the stock. Finally, Stephens upped their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

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.