Putnam Investments LLC Makes New $1.06 Million Investment in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Putnam Investments LLC bought a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,757 shares of the energy company’s stock, valued at approximately $1,062,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meixler Investment Management Ltd. grew its stake in shares of Alpha Metallurgical Resources by 10.6% during the third quarter. Meixler Investment Management Ltd. now owns 4,514 shares of the energy company’s stock worth $618,000 after buying an additional 433 shares during the last quarter. Cambria Investment Management L.P. grew its stake in shares of Alpha Metallurgical Resources by 1,307.6% in the third quarter. Cambria Investment Management L.P. now owns 46,803 shares of the energy company’s stock worth $6,405,000 after purchasing an additional 43,478 shares during the last quarter. Castle Hook Partners LP bought a new stake in shares of Alpha Metallurgical Resources in the third quarter worth $29,061,000. Convergence Investment Partners LLC bought a new stake in shares of Alpha Metallurgical Resources in the third quarter worth $174,000. Finally, Deutsche Bank AG grew its stake in shares of Alpha Metallurgical Resources by 3.3% in the second quarter. Deutsche Bank AG now owns 196,452 shares of the energy company’s stock worth $25,368,000 after purchasing an additional 6,283 shares during the last quarter. Institutional investors own 81.21% of the company’s stock.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $160.23 on Tuesday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 2.05 and a beta of 1.28. The company has a quick ratio of 2.27, a current ratio of 2.77 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a 12-month low of $103.90 and a 12-month high of $186.98. The company’s fifty day simple moving average is $162.98 and its 200 day simple moving average is $156.47.

Alpha Metallurgical Resources (NYSE:AMR – Get Rating) last released its earnings results on Thursday, February 23rd. The energy company reported $13.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $15.56 by ($2.19). The firm had revenue of $823.45 million during the quarter, compared to analyst estimates of $796.40 million. Alpha Metallurgical Resources had a net margin of 35.32% and a return on equity of 114.75%. On average, analysts expect that Alpha Metallurgical Resources, Inc. will post 46.09 earnings per share for the current year.

Alpha Metallurgical Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 1.10%. This is a positive change from Alpha Metallurgical Resources’s previous quarterly dividend of $0.39. Alpha Metallurgical Resources’s dividend payout ratio is currently 2.25%.

Insider Activity

In other news, CAO Roger Lee Nicholson sold 11,603 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $162.48, for a total transaction of $1,885,255.44. Following the transaction, the chief accounting officer now owns 21,842 shares in the company, valued at $3,548,888.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Roger Lee Nicholson sold 11,603 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $162.48, for a total transaction of $1,885,255.44. Following the transaction, the chief accounting officer now owns 21,842 shares in the company, valued at $3,548,888.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel E. Horn sold 7,220 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $168.05, for a total transaction of $1,213,321.00. Following the transaction, the insider now owns 17,464 shares in the company, valued at approximately $2,934,825.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,375 shares of company stock worth $9,181,139. Company insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

AMR has been the topic of several analyst reports. Cowen reduced their price objective on shares of Alpha Metallurgical Resources to $215.00 in a research note on Tuesday, November 15th. B. Riley boosted their price objective on shares of Alpha Metallurgical Resources from $193.00 to $202.00 in a research note on Tuesday, January 17th. Finally, Cowen boosted their price objective on shares of Alpha Metallurgical Resources from $200.00 to $210.00 in a research note on Monday, February 27th.

Alpha Metallurgical Resources Profile

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Alpha Metallurgical Resources, Inc is a mining company. It engages in the provision of met and thermal coal. The firm operates through the following business segments: Met, CAPP-Thermal, and All Other. The Met segment consists of met coal mines, including Deep Mine 41, Road Fork 52, Black Eagle, and Lynn Branch.