Towle & Co. Sells 12,955 Shares of Alpha Metallurgical Resources, Inc. $AMR

Towle & Co. lessened its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,789 shares of the energy company’s stock after selling 12,955 shares during the quarter. Alpha Metallurgical Resources accounts for 2.6% of Towle & Co.’s investment portfolio, making the stock its 12th biggest position. Towle & Co.’s holdings in Alpha Metallurgical Resources were worth $10,467,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new position in shares of Alpha Metallurgical Resources in the third quarter worth about $25,000. Hantz Financial Services Inc. grew its position in Alpha Metallurgical Resources by 361.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock worth $39,000 after acquiring an additional 188 shares during the last quarter. CWM LLC increased its stake in Alpha Metallurgical Resources by 146.0% in the 3rd quarter. CWM LLC now owns 246 shares of the energy company’s stock worth $40,000 after purchasing an additional 146 shares during the period. Farther Finance Advisors LLC lifted its position in Alpha Metallurgical Resources by 48.9% in the third quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock valued at $43,000 after purchasing an additional 87 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Alpha Metallurgical Resources by 85.4% in the third quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock valued at $62,000 after purchasing an additional 175 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael Gorzynski purchased 38,576 shares of the stock in a transaction dated Monday, December 15th. The stock was purchased at an average price of $188.50 per share, with a total value of $7,271,576.00. Following the transaction, the director directly owned 644,025 shares in the company, valued at $121,398,712.50. This trade represents a 6.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth S. Courtis bought 36,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was purchased at an average price of $175.26 per share, for a total transaction of $6,309,360.00. Following the purchase, the director owned 770,537 shares of the company’s stock, valued at approximately $135,044,314.62. This represents a 4.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 98,576 shares of company stock worth $17,994,174 over the last three months. 16.00% of the stock is currently owned by corporate insiders.

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $175.59 on Friday. The firm has a market capitalization of $2.26 billion, a P/E ratio of -49.32 and a beta of 0.78. The company’s 50-day simple moving average is $210.34 and its 200 day simple moving average is $176.63. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $253.82.

Wall Street Analyst Weigh In

AMR has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Texas Capital cut shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Jefferies Financial Group raised their price target on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. B. Riley Financial downgraded shares of Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $204.00 to $203.00 in a research note on Wednesday, February 4th. Finally, Zacks Research cut Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources has a consensus rating of “Reduce” and a consensus target price of $204.00.

Alpha Metallurgical Resources Company Profile

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.