In the second quarter of this year, Hennessy Advisors Inc. made a reduction in its holdings of Alpha Metallurgical Resources, Inc. This decrease amounted to 5.3% and was disclosed in the company’s recent Form 13F filing with the Securities and Exchange Commission. The firm’s portfolio of the energy company’s stock was reduced by 1,000 shares during this period, leaving them with 18,000 shares in total. At the end of the reporting period, these remaining shares were valued at $2,958,000.
As a result of this reduction in holdings by Hennessy Advisors Inc., their ownership stake in Alpha Metallurgical Resources now stands at 0.12%. While this represents a relatively small proportion of the company’s overall ownership structure, it is nevertheless significant considering Hennessy Advisors Inc.’s reputation as a reputable investment firm.
Moving on from their reduction in holdings, it is noteworthy that Alpha Metallurgical Resources recently announced its declaration of a quarterly dividend. This dividend is set to be paid on October 3rd to shareholders of record as of September 15th. The amount of this dividend is $0.50 per share, resulting in an annualized dividend payment of $2.00 per share.
From an investor’s perspective, this dividend presents them with a dividend yield of approximately 0.82%. This calculation takes into account the dividend payment as a percentage of the stock price at the time when the announcement was made. It is important for investors to bear in mind that dividends can fluctuate based on various factors and are subject to change over time.
It should also be noted that Alpha Metallurgical Resources has stated its ex-dividend date as September 14th. The ex-dividend date determines whether a shareholder is entitled to receive the next upcoming dividend payment or not based on their ownership position prior to this date.
Additionally, it is worth mentioning that the current dividend payout ratio (DPR) for Alpha Metallurgical Resources stands at 3.52%. The DPR is a financial metric used to assess the proportion of earnings that a company distributes to its shareholders in the form of dividends. This figure provides insight into the company’s dividend policy and its ability to generate consistent returns for its investors.
In conclusion, Hennessy Advisors Inc.’s reduction in its holdings of Alpha Metallurgical Resources signals a change in their investment strategy during the second quarter. Meanwhile, Alpha Metallurgical Resources’ recent declaration of a quarterly dividend presents an opportunity for stockholders to receive a return on their investment. While these developments do not dramatically alter the landscape of either entity, they remain noteworthy from an investor’s perspective.
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Alpha Metallurgical Resources Attracts Hedge Fund Interest with Strong Financial Performance
Alpha Metallurgical Resources, a leading energy company, has seen a significant increase in the holdings of various hedge funds in recent months. Renaissance Technologies LLC, for example, lifted its holdings in Alpha Metallurgical Resources by a staggering 545.5% during the first quarter of this year. This move saw Renaissance Technologies LLC acquire an additional 257,000 shares of the company’s stock, now worth around $40 million.
Envestnet Asset Management Inc. also made a substantial investment in Alpha Metallurgical Resources, increasing its holdings by an astounding 13,521.9% during the first quarter. The Envestnet Asset Management Inc. portfolio now includes 222,855 shares of the energy company’s stock.
Other notable hedge funds that have recently modified their holdings in Alpha Metallurgical Resources include Vanguard Group Inc., State Street Corp, and Systrade AG. Vanguard Group Inc., for instance, increased its holdings by 17.0% during the third quarter to reach a total of 1,492,124 shares valued at $204 million.
Equities research analysts have also weighed in on Alpha Metallurgical Resources recently. B. Riley increased their price target on the company from $197 to $199 in a report released on August 8th. However, TD Cowen downgraded their rating for Alpha Metallurgical Resources from “outperform” to “market perform” and decreased their price target from $200 to $194 on August 21st.
On Tuesday morning, Alpha Metallurgical Resources’ stock opened at $244.21 per share. The company has witnessed a significant fluctuation in its stock price over the past year, ranging from a low of $116.86 to a high of $251.
As of September 26th, Alpha Metallurgical Resources had a fifty-day moving average price of $198.03 and a two-hundred-day moving average price of $169.10. With a market capitalization of $3.70 billion, the company has a price-to-earnings ratio of 4.30 and a beta of 1.28.
In its latest earnings release on August 4th, Alpha Metallurgical Resources reported an impressive quarterly EPS (earnings per share) of $12.16, surpassing analysts’ consensus estimate of $9.32 by $2.84. The company generated revenue of $858.40 million during the quarter, slightly exceeding the consensus estimate of $833.69 million.
Alpha Metallurgical Resources boasts a remarkable return on equity of 62.51% and a net margin of 26.73%. However, compared to the same quarter last year, the company’s quarterly revenue was down by 35.8%. In the corresponding period in the previous year, Alpha Metallurgical Resources earned an impressive $30.03 earnings per share.
Sell-side analysts predict that Alpha Metallurgical Resources will post an EPS of 46.91 for the current year.
Overall, Alpha Metallurgical Resources has attracted significant attention from hedge funds and equities research analysts due to its strong performance and solid financials in recent quarters. Despite experiencing some fluctuations in stock price over the past year, the company remains poised for continued success in the energy sector.
