Arizona State Retirement System Cuts Stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Arizona State Retirement System cut its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 14.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,179 shares of the energy company’s stock after selling 531 shares during the period. Arizona State Retirement System’s holdings in Alpha Metallurgical Resources were worth $1,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in Alpha Metallurgical Resources during the fourth quarter valued at approximately $2,465,000. Raymond James & Associates boosted its stake in Alpha Metallurgical Resources by 203.8% during the third quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after buying an additional 6,404 shares during the last quarter. Invesco Ltd. boosted its stake in Alpha Metallurgical Resources by 180.9% during the third quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock valued at $30,081,000 after buying an additional 74,583 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Alpha Metallurgical Resources during the third quarter valued at approximately $28,239,000. Finally, Dalal Street LLC boosted its stake in Alpha Metallurgical Resources by 21.7% during the third quarter. Dalal Street LLC now owns 441,510 shares of the energy company’s stock valued at $114,673,000 after buying an additional 78,861 shares during the last quarter. 84.29% of the stock is owned by institutional investors.

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $325.24 on Tuesday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 6.68 and a beta of 1.35. Alpha Metallurgical Resources, Inc. has a 1 year low of $132.72 and a 1 year high of $452.00. The business has a 50 day simple moving average of $349.14 and a 200-day simple moving average of $315.23.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data 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 business had revenue of $959.90 million during the quarter, compared to analyst estimates of $796.65 million. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $13.37 EPS. As a group, analysts expect that Alpha Metallurgical Resources, Inc. will post 37.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David J. Stetson sold 30,694 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 directly owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David J. Stetson sold 30,694 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the sale, the director now directly owns 26,054 shares in the company, valued at $10,220,984.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles Andrew Eidson sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $363.06, for a total value of $10,891,800.00. Following the completion of the sale, the chief executive officer now owns 50,025 shares in the company, valued at $18,162,076.50. The disclosure for this sale can be found here. Insiders sold 153,971 shares of company stock valued at $55,479,986 in the last ninety days. Insiders own 15.00% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley dropped their price target on Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating for the company in a research note on Monday.

About Alpha Metallurgical Resources

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.