Pekin Hardy Strauss Inc. Reduces Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Pekin Hardy Strauss Inc. reduced its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 24,500 shares of the company’s stock after selling 600 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Atlas Energy Solutions were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AESI. Charles Schwab Investment Management Inc. increased its position in Atlas Energy Solutions by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after buying an additional 25,999 shares during the period. Intech Investment Management LLC acquired a new position in shares of Atlas Energy Solutions in the 3rd quarter valued at $323,000. Quest Partners LLC acquired a new position in shares of Atlas Energy Solutions in the 3rd quarter valued at $48,000. Principal Financial Group Inc. purchased a new stake in Atlas Energy Solutions in the 3rd quarter valued at $844,000. Finally, Emerald Advisers LLC boosted its stake in Atlas Energy Solutions by 28.4% during the 3rd quarter. Emerald Advisers LLC now owns 10,850 shares of the company’s stock worth $237,000 after purchasing an additional 2,400 shares during the period. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Trading Up 9.7 %

Shares of AESI stock opened at $23.59 on Monday. The business’s fifty day moving average price is $21.09 and its 200 day moving average price is $21.03. The firm has a market capitalization of $2.60 billion, a PE ratio of 29.86, a P/E/G ratio of 11.90 and a beta of 0.69. 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 1-year low of $15.55 and a 1-year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25). The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Atlas Energy Solutions’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, sell-side analysts forecast that Atlas Energy Solutions Inc. will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.07%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $20.70, for a total value of $207,000.00. Following the sale, the insider now directly owns 482,010 shares of the company’s stock, valued at approximately $9,977,607. This represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Gregory M. Shepard bought 13,363 shares of the company’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $19.19 per share, with a total value of $256,435.97. Following the completion of the acquisition, the insider now directly owns 7,619,055 shares in the company, valued at $146,209,665.45. This represents a 0.18 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 60,869 shares of company stock valued at $1,187,983 and sold 75,713 shares valued at $1,581,831. 24.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. The Goldman Sachs Group cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Stephens reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.00 in a report on Thursday, November 14th. Finally, Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Moderate Buy” and an average price target of $24.44.

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.