Alliance Resource EVP Charles R. Wesley Sells 26,608 Shares (ARLP)
Alliance Resource (NASDAQ:ARLP) EVP Charles R. Wesley unloaded 26,608 shares of Alliance Resource stock on the open market in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $82.55, for a total transaction of $2,196,490.40. Following the completion of the sale, the executive vice president now directly owns 60,466 shares in the company, valued at approximately $4,991,468. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Alliance Resource (NASDAQ:ARLP) traded down 0.49% on Thursday, hitting $81.81. The stock had a trading volume of 30,338 shares. Alliance Resource has a 52 week low of $59.38 and a 52 week high of $84.50. The stock’s 50-day moving average is $78.34 and its 200-day moving average is $76.21. The company has a market cap of $3.024 billion and a P/E ratio of 11.16.
Alliance Resource (NASDAQ:ARLP) last posted its quarterly earnings results on Monday, January 27th. The company reported $1.85 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.87 earnings per share. Alliance Resource’s revenue was up 3.1% compared to the same quarter last year. Analysts expect that Alliance Resource will post $7.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Shareholders 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 5.70%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Alliance Resource’s previous quarterly dividend of $1.18.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $82.30.
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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