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

Pekin Hardy Strauss Inc. trimmed its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new stake in shares of Atlas Energy Solutions in the second quarter worth about $280,000. KEMPER Corp bought a new stake in shares of Atlas Energy Solutions in the second quarter worth about $776,000. Envestnet Asset Management Inc. increased its holdings in shares of Atlas Energy Solutions by 127.7% in the second quarter. Envestnet Asset Management Inc. now owns 249,826 shares of the company’s stock worth $4,979,000 after purchasing an additional 140,110 shares during the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in shares of Atlas Energy Solutions in the second quarter worth about $533,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Atlas Energy Solutions by 54.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,297 shares of the company’s stock worth $107,000 after purchasing an additional 1,860 shares during the last quarter. 34.59% of the stock is owned by institutional investors.

Atlas Energy Solutions Stock Up 1.8 %

Shares of NYSE:AESI opened at $21.76 on Wednesday. Atlas Energy Solutions Inc. has a 1 year low of $15.55 and a 1 year high of $24.93. The business has a 50 day simple moving average of $20.42 and a two-hundred day simple moving average of $21.40. The firm has a market capitalization of $2.18 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 5.92 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35.

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

Atlas Energy Solutions Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AESI shares. Tudor Pickering raised Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th. Royal Bank of Canada dropped their price target on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Stephens reiterated an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Buy” and an average target price of $26.25.

Insider Buying and Selling

In related news, major shareholder Stacy Hock sold 8,574 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $19.76, for a total value of $169,422.24. Following the transaction, the insider now owns 969,030 shares of the company’s stock, valued at $19,148,032.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Stacy Hock sold 8,574 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $19.76, for a total value of $169,422.24. Following the transaction, the insider now owns 969,030 shares of the company’s stock, valued at $19,148,032.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard acquired 60,393 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $19.05 per share, for a total transaction of $1,150,486.65. Following the purchase, the insider now owns 7,383,018 shares of the company’s stock, valued at $140,646,492.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 134,526 shares of company stock valued at $2,611,884 and have sold 34,287 shares valued at $679,825. 24.34% of the stock is owned by insiders.

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.