Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as $19.93 and last traded at $19.93, with a volume of 150,852 shares. The stock had previously closed at $20.68.

ARLP has been the subject of several analyst reports. FBR & Co increased their price target on shares of Alliance Resource Partners, L.P. from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Zacks Investment Research raised shares of Alliance Resource Partners, L.P. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $22.50.

The company has a market cap of $1.47 billion and a P/E ratio of 12.32. The firm has a 50-day moving average of $17.93 and a 200 day moving average of $14.63.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.27. The company had revenue of $439.20 million for the quarter, compared to analyst estimates of $444.13 million. During the same period in the prior year, the business earned $0.76 earnings per share. Alliance Resource Partners, L.P.’s revenue was down 27.4% on a year-over-year basis. Equities research analysts anticipate that Alliance Resource Partners, L.P. will post $2.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 8.85%. The ex-dividend date was Wednesday, August 3rd.

In other news, VP Robert J. Fouch sold 17,000 shares of Alliance Resource Partners, L.P. stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $19.34, for a total value of $328,780.00. Following the completion of the transaction, the vice president now directly owns 33,242 shares of the company’s stock, valued at approximately $642,900.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Several hedge funds and institutional investors have bought and sold shares of the stock. Marshall Wace LLP acquired a new position in Alliance Resource Partners, L.P. during the fourth quarter valued at approximately $2,493,000. Morgan Stanley raised its position in Alliance Resource Partners, L.P. by 75.1% in the fourth quarter. Morgan Stanley now owns 878,997 shares of the company’s stock valued at $11,858,000 after buying an additional 377,083 shares during the period. Finally, Magnolia Group LLC acquired a new position in Alliance Resource Partners, L.P. during the fourth quarter valued at approximately $22,519,000.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia.

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