Hodges Capital Management Inc. Sells 53,240 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Hodges Capital Management Inc. decreased its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 18.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 232,760 shares of the company’s stock after selling 53,240 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.23% of Atlas Energy Solutions worth $5,266,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AESI. Goldman Sachs Group Inc. raised its holdings in shares of Atlas Energy Solutions by 127.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,136,136 shares of the company’s stock valued at $19,564,000 after purchasing an additional 637,249 shares in the last quarter. Palogic Value Management L.P. purchased a new stake in Atlas Energy Solutions in the fourth quarter valued at $1,464,000. HITE Hedge Asset Management LLC raised its position in Atlas Energy Solutions by 211.4% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,139,426 shares of the company’s stock valued at $19,621,000 after acquiring an additional 773,561 shares in the last quarter. CoreCommodity Management LLC acquired a new stake in Atlas Energy Solutions during the fourth quarter valued at $185,000. Finally, Keeley Teton Advisors LLC increased its stake in shares of Atlas Energy Solutions by 42.4% in the 4th quarter. Keeley Teton Advisors LLC now owns 194,966 shares of the company’s stock valued at $3,357,000 after purchasing an additional 58,004 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Gregory M. Shepard purchased 40,872 shares of Atlas Energy Solutions stock in a transaction dated 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 transaction, the insider now owns 7,445,069 shares in the company, valued at $146,221,155.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Stacy Hock sold 8,574 shares of Atlas Energy Solutions stock in a transaction dated Monday, June 24th. The stock was 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 owns 969,030 shares in the company, valued at approximately $19,148,032.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Gregory M. Shepard acquired 40,872 shares of the stock in a transaction dated Wednesday, June 26th. The shares were bought at an average cost of $19.64 per share, with a total value of $802,726.08. Following the completion of the purchase, the insider now directly owns 7,445,069 shares in the company, valued at $146,221,155.16. The disclosure for this purchase can be found here. Insiders sold 205,672 shares of company stock valued at $4,859,410 over the last quarter. 24.34% of the stock is currently owned by company insiders.

Atlas Energy Solutions Stock Up 0.8 %

NYSE AESI traded up $0.16 during mid-day trading on Friday, hitting $19.93. The company’s stock had a trading volume of 10,339,547 shares, compared to its average volume of 1,386,100. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 2.87 and a beta of 0.73. The company has a current ratio of 2.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.43. The company’s 50 day simple moving average is $22.10 and its 200 day simple moving average is $20.15. Atlas Energy Solutions Inc. has a twelve month low of $15.55 and a twelve month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The firm had revenue of $192.67 million for the quarter, compared to the consensus estimate of $196.39 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. Analysts anticipate that Atlas Energy Solutions Inc. will post 2.02 earnings per share for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were given a dividend of $0.22 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 4.42%. Atlas Energy Solutions’s dividend payout ratio is presently 35.56%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AESI shares. Tudor, Pickering, Holt & Co. initiated coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating on the stock. Barclays boosted their price objective on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group lifted their price target on Atlas Energy Solutions from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Tudor Pickering raised shares of Atlas Energy Solutions to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Raymond James raised their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $26.00.

Atlas Energy Solutions Company 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.