Amalgamated Bank Grows Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Amalgamated Bank grew its position in Atlas Energy Solutions Inc. (NYSE:AESI) by 328.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,350 shares of the company’s stock after acquiring an additional 1,801 shares during the quarter. Amalgamated Bank’s holdings in Atlas Energy Solutions were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Denali Advisors LLC purchased a new stake in Atlas Energy Solutions in the 2nd quarter valued at about $2,149,000. Dimensional Fund Advisors LP purchased a new stake in shares of Atlas Energy Solutions in the second quarter valued at approximately $280,000. KEMPER Corp bought a new position in Atlas Energy Solutions in the second quarter worth approximately $776,000. Envestnet Asset Management Inc. increased its holdings in Atlas Energy Solutions by 127.7% during the 2nd 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 period. Finally, Pinkerton Retirement Specialists LLC purchased a new position in Atlas Energy Solutions during the 2nd quarter worth $533,000. Institutional investors own 34.59% of the company’s stock.

Wall Street Analysts Forecast Growth

AESI has been the subject of several recent research reports. Tudor, Pickering, Holt & Co. started coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They issued a “buy” rating for the company. Benchmark reissued a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on shares of Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Tudor Pickering upgraded shares of Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Finally, Bank of America dropped their target price on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $26.25.

Insider Buying and Selling

In other news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 3,248 shares of Atlas Energy Solutions stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the acquisition, the insider now owns 7,503,197 shares in the company, valued at $162,669,310.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,713 shares of company stock worth $510,403. Corporate insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Trading Up 0.5 %

Shares of Atlas Energy Solutions stock opened at $21.90 on Wednesday. Atlas Energy Solutions Inc. has a 1-year low of $15.55 and a 1-year high of $24.93. The stock’s 50 day simple moving average is $20.66 and its 200-day simple moving average is $21.52. The stock has a market cap of $2.19 billion, a P/E ratio of 12.16, a P/E/G ratio of 6.95 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 issued its quarterly earnings data 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 company had revenue of $287.52 million during 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 posted $0.69 earnings per share. Analysts predict that Atlas Energy Solutions Inc. will post 1.48 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.20%. Atlas Energy Solutions’s payout ratio is presently 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.