Towle & Co. Reduces Stock Holdings in Alpha Metallurgical Resources, Inc. $AMR

Towle & Co. cut its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 37.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,121 shares of the energy company’s stock after selling 22,480 shares during the quarter. Alpha Metallurgical Resources makes up about 3.0% of Towle & Co.’s holdings, making the stock its 7th biggest holding. Towle & Co.’s holdings in Alpha Metallurgical Resources were worth $7,825,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Citizens Bank & Trust Co. lifted its position in Alpha Metallurgical Resources by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock valued at $811,000 after acquiring an additional 72 shares during the period. ProShare Advisors LLC grew its holdings in Alpha Metallurgical Resources by 3.3% in the fourth quarter. ProShare Advisors LLC now owns 2,266 shares of the energy company’s stock worth $453,000 after purchasing an additional 73 shares during the period. Mainstay Capital Management LLC ADV grew its holdings in Alpha Metallurgical Resources by 5.9% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 1,326 shares of the energy company’s stock worth $265,000 after purchasing an additional 74 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Alpha Metallurgical Resources by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock valued at $704,000 after purchasing an additional 76 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Alpha Metallurgical Resources by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,907 shares of the energy company’s stock valued at $781,000 after purchasing an additional 78 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a research report on Thursday, April 30th. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. UBS Group initiated coverage on Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, June 24th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $181.50.

Insider Activity

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis bought 15,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $189.22 per share, with a total value of $2,838,300.00. Following the transaction, the director owned 975,394 shares in the company, valued at $184,564,052.68. This represents a 1.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total transaction of $828,104.28. Following the transaction, the chief operating officer owned 10,450 shares in the company, valued at $2,218,326. This represents a 27.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.20% of the company’s stock.

Alpha Metallurgical Resources Price Performance

Shares of NYSE AMR opened at $143.31 on Friday. The firm has a market cap of $1.82 billion, a P/E ratio of -47.77 and a beta of 0.63. Alpha Metallurgical Resources, Inc. has a twelve month low of $113.00 and a twelve month high of $253.82. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $175.10 and a 200 day moving average of $191.32.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, meeting the consensus estimate of ($0.86). The business had revenue of $447.32 million for the quarter, compared to the consensus estimate of $535.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The company’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted ($2.60) EPS. As a group, research analysts expect that Alpha Metallurgical Resources, Inc. will post 8.21 EPS for the current fiscal year.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.