Alliance Resource EVP Unloads $966,287 in Stock (ARLP)
Alliance Resource (NASDAQ:ARLP) EVP Charles R. Wesley unloaded 11,959 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $80.80, for a total transaction of $966,287.20. Following the completion of the transaction, the executive vice president now directly owns 87,074 shares of the company’s stock, valued at approximately $7,035,579. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on ARLP shares. Analysts at Cowen and Company raised their price target on shares of Alliance Resource from $84.00 to $90.00 in a research note on Wednesday, January 29th. They now have an “outperform” rating on the stock. Analysts at Raymond James downgraded shares of Alliance Resource from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, January 29th. They now have a $84.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $82.30.
Shares of Alliance Resource (NASDAQ:ARLP) traded up 1.93% on Tuesday, hitting $82.635. The stock had a trading volume of 61,500 shares. Alliance Resource has a 1-year low of $59.38 and a 1-year high of $83.30. The stock has a 50-day moving average of $77.96 and a 200-day moving average of $76.12. The company has a market cap of $3.054 billion and a P/E ratio of 11.01.
Alliance Resource (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, January 27th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.27. The company had revenue of $566.70 million for the quarter, compared to the consensus estimate of $543.94 million. During the same quarter in the prior year, the company posted $1.87 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect that Alliance Resource will post $7.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $1.1975 per share. This represents a $4.79 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Alliance Resource’s previous quarterly dividend of $1.18.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a producer and marketer of coal primarily to the United States utilities and industrial users.
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