Allspring Global Investments Holdings LLC Increases Stock Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 24.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,604 shares of the energy company’s stock after purchasing an additional 320 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alpha Metallurgical Resources were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, CEO Charles Andrew Eidson sold 30,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $363.06, for a total transaction of $10,891,800.00. Following the completion of the sale, the chief executive officer now directly owns 50,025 shares of the company’s stock, valued at $18,162,076.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total value of $36,029.00. Following the completion of the sale, the insider now owns 6,462 shares of the company’s stock, valued at $2,328,193.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles Andrew Eidson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 50,025 shares of the company’s stock, valued at approximately $18,162,076.50. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock valued at $55,479,986 over the last three months. 15.00% of the stock is currently owned by company insiders.

Alpha Metallurgical Resources Price Performance

Shares of NYSE AMR opened at $341.44 on Friday. The stock has a fifty day moving average price of $343.04 and a 200 day moving average price of $319.13. Alpha Metallurgical Resources, Inc. has a 1-year low of $132.72 and a 1-year high of $452.00. The company has a market cap of $4.44 billion, a PE ratio of 7.01 and a beta of 1.35.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, topping the consensus estimate of $8.78 by $4.10. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The firm had revenue of $959.90 million during the quarter, compared to the consensus estimate of $796.65 million. During the same period last year, the company earned $13.37 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts anticipate that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Alpha Metallurgical Resources 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.