Cumberland Partners Ltd Raises Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Cumberland Partners Ltd lifted its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 20.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 139,900 shares of the company’s stock after buying an additional 23,600 shares during the period. Cumberland Partners Ltd’s holdings in Atlas Energy Solutions were worth $3,103,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Stifel Financial Corp raised its position in Atlas Energy Solutions by 28.6% in the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company’s stock worth $2,761,000 after purchasing an additional 28,158 shares during the period. Hodges Capital Management Inc. grew its stake in shares of Atlas Energy Solutions by 44.7% during the fourth quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company’s stock valued at $4,302,000 after buying an additional 59,940 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Atlas Energy Solutions by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,569 shares of the company’s stock worth $11,305,000 after buying an additional 25,999 shares during the period. Ashford Capital Management Inc. lifted its stake in shares of Atlas Energy Solutions by 27.9% during the 3rd quarter. Ashford Capital Management Inc. now owns 586,000 shares of the company’s stock worth $12,775,000 after acquiring an additional 127,910 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in Atlas Energy Solutions by 19.3% during the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock valued at $49,856,000 after acquiring an additional 363,742 shares during the period. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Down 1.4 %

AESI stock opened at $21.91 on Thursday. The stock has a market capitalization of $2.41 billion, a PE ratio of 27.73 and a beta of 1.03. Atlas Energy Solutions Inc. has a 52 week low of $17.49 and a 52 week high of $26.86. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $22.62 and a 200 day moving average of $21.64.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Atlas Energy Solutions’s payout ratio is 121.52%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $24.46, for a total value of $305,750.00. Following the sale, the insider now owns 362,010 shares in the company, valued at $8,854,764.60. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $21.96, for a total transaction of $219,600.00. Following the transaction, the insider now directly owns 907,604 shares of the company’s stock, valued at $19,930,983.84. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,071 shares of company stock valued at $2,493,851 in the last ninety days. Company insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AESI. Barclays increased their target price on Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Royal Bank of Canada lifted their price objective on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Benchmark upped their target price on shares of Atlas Energy Solutions from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Atlas Energy Solutions has an average rating of “Moderate Buy” and a consensus target price of $25.50.

About Atlas Energy Solutions

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.