Pekin Hardy Strauss Inc. Sells 3,000 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Pekin Hardy Strauss Inc. lessened its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 10.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,100 shares of the company’s stock after selling 3,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Atlas Energy Solutions were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at $280,000. KEMPER Corp purchased a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at $776,000. Envestnet Asset Management Inc. lifted its holdings in shares of Atlas Energy Solutions by 127.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 249,826 shares of the company’s stock valued at $4,979,000 after purchasing an additional 140,110 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Atlas Energy Solutions during the 2nd quarter valued at $533,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Atlas Energy Solutions by 54.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock valued at $107,000 after purchasing an additional 1,860 shares during the last quarter. Institutional investors own 34.59% of the company’s stock.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,574 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $19.76, for a total transaction of $169,422.24. Following the sale, the insider now directly owns 969,030 shares of the company’s stock, valued at approximately $19,148,032.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Gregory M. Shepard purchased 40,872 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $19.64 per share, with a total value of $802,726.08. Following the purchase, the insider now owns 7,445,069 shares of the company’s stock, valued at $146,221,155.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Stacy Hock sold 8,574 shares of Atlas Energy Solutions stock in a transaction on Monday, June 24th. The shares were sold at an average price of $19.76, for a total transaction of $169,422.24. Following the completion of the sale, the insider now directly owns 969,030 shares in the company, valued at approximately $19,148,032.80. The disclosure for this sale can be found here. Over the last quarter, insiders bought 134,526 shares of company stock valued at $2,611,884 and sold 34,287 shares valued at $679,825. 24.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AESI has been the subject of several analyst reports. Piper Sandler decreased their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Tudor, Pickering, Holt & Co. initiated coverage on Atlas Energy Solutions in a report on Monday, June 24th. They set a “buy” rating for the company. Bank of America decreased their price objective on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reduced their target price on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Stephens reissued an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.25.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $21.76 on Wednesday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 11.87, a PEG ratio of 5.92 and a beta of 0.56. The stock has a 50-day simple moving average of $20.42 and a two-hundred day simple moving average of $21.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). The company had revenue of $287.52 million during the quarter, compared to analyst estimates of $270.55 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The company’s revenue was up 77.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.23%. The ex-dividend date was Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s dividend payout ratio (DPR) is currently 51.11%.

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.