Meridian Wealth Advisors LLC Has $59.42 Million Stock Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Meridian Wealth Advisors LLC cut its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,678,800 shares of the company’s stock after selling 1,346 shares during the period. Atlas Energy Solutions makes up approximately 9.8% of Meridian Wealth Advisors LLC’s holdings, making the stock its 2nd biggest position. Meridian Wealth Advisors LLC owned 2.43% of Atlas Energy Solutions worth $59,416,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in shares of Atlas Energy Solutions during the 3rd quarter worth about $844,000. Quest Partners LLC bought a new position in shares of Atlas Energy Solutions during the 3rd quarter worth about $48,000. Intech Investment Management LLC acquired a new stake in shares of Atlas Energy Solutions during the 3rd quarter worth about $323,000. Charles Schwab Investment Management Inc. increased its position in shares of Atlas Energy Solutions by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after purchasing an additional 25,999 shares in the last quarter. Finally, FMR LLC increased its position in shares of Atlas Energy Solutions by 101.0% during the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after purchasing an additional 1,355 shares in the last quarter. 34.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Stephens raised their price objective on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Barclays lowered 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 research report on Monday, March 3rd. Royal Bank of Canada reduced their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Benchmark cut their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.83.

Atlas Energy Solutions Price Performance

Shares of NYSE:AESI opened at $17.96 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $21.00 and its two-hundred day simple moving average is $21.38. Atlas Energy Solutions Inc. has a 1-year low of $16.98 and a 1-year high of $26.86. The stock has a market cap of $2.19 billion, a PE ratio of 22.74 and a beta of 1.18.

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

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.24. Atlas Energy Solutions’s dividend payout ratio (DPR) is 178.57%.

Insider Activity

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the transaction, the insider now directly owns 404,510 shares of the company’s stock, valued at approximately $9,303,730. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now directly owns 897,604 shares in the company, valued at $20,196,090. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock worth $1,164,750. 24.34% of the stock is currently owned by insiders.

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.