Wells Fargo Clearing Services LLC recently announced the acquisition of new stake in Adams Resources & Energy Inc. (AMEX:AE). The institutional investor has increased its shareholding in the Energy company by 2.00% to 0.11 million shares with purchase of 2101.0 shares. This fresh investment now brings its stake to 4.38% valued currently at $4.18 million. In addition, Bridgeway Capital Management LLC raised its holdings by 2100.0 to 60600.0 shares. And Needham Investment Management LLC has lifted its position by 96.00% or 24000.0 shares – to 49000.0 shares.
With over 0.14 million Adams Resources & Energy Inc. (AE) shares trading Friday and a closing price of $49.66 on the day, the dollar volume was approximately $7.01 million. The shares have shown a positive half year performance of 57.70% and its price on 01/20/23 lost nearly -0.78%. Currently, there are 4.39M common shares owned by the public and among those 2.38M shares have been available to trade.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 9,979 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 835 shares.
The top 3 mutual fund holders in Adams Resources & Energy Inc. are Fidelity Low Priced Stock Fund, Aegis Value Fund, and DFA US Small Cap Value Portfolio. Fidelity Low Priced Stock Fund owns 0.16 million shares of the company’s stock, all valued at over $6.23 million. The company sold 63.0 shares recently to bring their total holdings to about 6.53% of the shares outstanding. Aegis Value Fund sold 100.0 shares to see its total holdings shrink to 0.14 million shares valued at over $5.29 million and representing 5.54% of the shares outstanding. DFA US Small Cap Value Portfolio now owns shares totaling to 4.47% of the shares outstanding.
Shares of Adams Resources & Energy Inc. (AMEX: AE) opened at $50.95, up $0.9 from a prior closing price of $50.05. However, the script later moved the day high at 51.10, down -0.78%. The company’s stock has a 5-day price change of 5.28% and 60.14% over the past three months. AE shares are trading 27.60% year to date (YTD), with the 12-month market performance up to 62.13% higher. It has a 12-month low price of $27.40 and touched a high of $51.50 over the same period. AE has an average intraday trading volume of 21.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.96%, 23.07%, and 42.44% respectively.
Institutional ownership of Adams Resources & Energy Inc. (AMEX: AE) shares accounts for 67.20% of the company’s 4.39M shares outstanding. Mutual fund holders own 32.99%, while other institutional holders and individual stakeholders account for 34.01% and 152.37% respectively.
It has a market capitalization of $122.66M and a beta (3y monthly) value of 0.93. The stock’s trailing 12-month PE ratio is 16.13, while the earnings-per-share (ttm) stands at $3.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.63% over the week and 5.05% over the month.
Analysts forecast that Adams Resources & Energy Inc. (AE) will achieve an EPS of $0.76 for the current quarter, $0.75 for the next quarter and $2.58 for 2023. The lowest estimate earnings-per-share for the quarter is $0.7 while analysts give the company a high EPS estimate of $0.83. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to increase by 21.10%, and 33.48% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Adams Resources & Energy Inc. (AE) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AE, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on March 17, 2022, with the firm’s price target at $45.