Baird Financial Group Inc. Has $17.53 Million Stake in Core Natural Resources, Inc. $CNR

Baird Financial Group Inc. reduced its position in shares of Core Natural Resources, Inc. (NYSE:CNR) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,422 shares of the energy company’s stock after selling 25,964 shares during the period. Baird Financial Group Inc. owned approximately 0.49% of Core Natural Resources worth $17,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNR. First Trust Advisors LP grew its stake in shares of Core Natural Resources by 619.5% during the second quarter. First Trust Advisors LP now owns 267,445 shares of the energy company’s stock worth $18,652,000 after buying an additional 230,275 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Core Natural Resources by 84.9% during the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company’s stock worth $29,000 after purchasing an additional 191 shares during the period. Beacon Pointe Advisors LLC increased its stake in shares of Core Natural Resources by 18.8% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 10,186 shares of the energy company’s stock valued at $710,000 after acquiring an additional 1,612 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Core Natural Resources during the second quarter valued at about $304,000. Finally, Tejara Capital Ltd boosted its holdings in Core Natural Resources by 53.4% in the second quarter. Tejara Capital Ltd now owns 126,277 shares of the energy company’s stock worth $8,807,000 after acquiring an additional 43,960 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.

Core Natural Resources Stock Down 0.8%

Shares of NYSE:CNR opened at $83.33 on Friday. The firm has a fifty day moving average price of $84.60 and a two-hundred day moving average price of $77.14. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -193.79 and a beta of 0.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.82 and a quick ratio of 1.29. Core Natural Resources, Inc. has a one year low of $58.19 and a one year high of $125.78.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings results on Thursday, November 6th. The energy company reported $0.61 earnings per share for the quarter, topping the consensus estimate of ($1.40) by $2.01. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Core Natural Resources had a negative net margin of 1.17% and a positive return on equity of 0.52%. The company’s revenue was up 74.4% on a year-over-year basis. Analysts anticipate that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Core Natural Resources’s payout ratio is currently -93.02%.

Insiders Place Their Bets

In related news, Director Patrick A. Kriegshauser sold 3,043 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.07, for a total transaction of $234,524.01. Following the transaction, the director owned 23,348 shares of the company’s stock, valued at approximately $1,799,430.36. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Navarre sold 5,000 shares of Core Natural Resources stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $82.20, for a total value of $411,000.00. Following the completion of the transaction, the director owned 21,830 shares in the company, valued at approximately $1,794,426. This represents a 18.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,043 shares of company stock valued at $740,524 over the last 90 days. Insiders own 1.41% of the company’s stock.

Analyst Upgrades and Downgrades

CNR has been the topic of a number of research reports. Zacks Research lowered Core Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Benchmark reaffirmed a “buy” rating on shares of Core Natural Resources in a report on Monday, November 10th. UBS Group boosted their price objective on Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and increased their target price for the company from $90.00 to $125.00 in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Core Natural Resources in a research note on Monday, December 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $119.10.

About Core Natural Resources

Core Natural Resources, Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company’s PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users.