Meritage Portfolio Management Boosts Holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Meritage Portfolio Management raised its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,825 shares of the energy company’s stock after purchasing an additional 101 shares during the period. Meritage Portfolio Management’s holdings in Alpha Metallurgical Resources were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMR. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter worth about $128,857,000. Pacer Advisors Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth about $139,291,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter worth about $28,239,000. Dalal Street LLC boosted its stake in shares of Alpha Metallurgical Resources by 21.7% during the 3rd quarter. Dalal Street LLC now owns 441,510 shares of the energy company’s stock worth $114,673,000 after purchasing an additional 78,861 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Alpha Metallurgical Resources by 180.9% during the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock worth $30,081,000 after purchasing an additional 74,583 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Up 0.5 %

Shares of AMR traded up $1.76 during mid-day trading on Friday, reaching $342.86. 96,494 shares of the stock traded hands, compared to its average volume of 241,865. Alpha Metallurgical Resources, Inc. has a 12-month low of $132.72 and a 12-month high of $452.00. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 7.01 and a beta of 1.35. The stock has a fifty day simple moving average of $343.04 and a 200 day simple moving average of $319.13.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.78 by $4.10. The company had revenue of $959.90 million during the quarter, compared to the consensus estimate of $796.65 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $13.37 earnings per share. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alpha Metallurgical Resources news, CAO Roger Lee Nicholson sold 6,629 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $369.71, for a total value of $2,450,807.59. Following the sale, the chief accounting officer now directly owns 10,720 shares in the company, valued at $3,963,291.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. Stetson sold 30,694 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares in the company, valued at $10,220,984.20. The disclosure for this sale can be found here. Insiders sold 153,971 shares of company stock valued at $55,479,986 over the last 90 days. 15.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their price target on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a research note on Monday, April 15th.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.