CIBC Asset Management Inc purchased a new stake in Peabody Energy Co. (NYSE:BTU) in the second quarter, Holdings Channel reports. The institutional investor purchased 4,611 shares of the coal producer’s stock, valued at approximately $210,000.
A number of other large investors also recently made changes to their positions in the business. Contrarian Capital Management L.L.C. lifted its holdings in Peabody Energy by 31.5% in the first quarter. Contrarian Capital Management L.L.C. now owns 9,985,667 shares of the coal producer’s stock valued at $364,477,000 after acquiring an additional 2,394,771 shares during the period. BlackRock Inc. lifted its holdings in Peabody Energy by 7.8% in the first quarter. BlackRock Inc. now owns 5,630,218 shares of the coal producer’s stock valued at $205,503,000 after acquiring an additional 407,353 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Peabody Energy by 32.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,253,684 shares of the coal producer’s stock valued at $118,759,000 after acquiring an additional 798,936 shares during the period. Boston Partners acquired a new position in Peabody Energy in the first quarter valued at approximately $64,842,000. Finally, JPMorgan Chase & Co. lifted its holdings in Peabody Energy by 209.1% in the first quarter. JPMorgan Chase & Co. now owns 1,345,702 shares of the coal producer’s stock valued at $49,119,000 after acquiring an additional 910,355 shares during the period. 99.31% of the stock is owned by institutional investors.
Shares of BTU stock opened at $41.82 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.28 and a quick ratio of 2.01. The company has a market cap of $5.03 billion, a PE ratio of 8.66 and a beta of 0.76. Peabody Energy Co. has a 1-year low of $28.08 and a 1-year high of $47.84.
Peabody Energy (NYSE:BTU) last announced its earnings results on Tuesday, July 24th. The coal producer reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.12). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. Peabody Energy had a return on equity of 24.59% and a net margin of 15.71%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) earnings per share. sell-side analysts forecast that Peabody Energy Co. will post 4.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Stockholders of record on Thursday, August 2nd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.20%. This is an increase from Peabody Energy’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, August 1st.
In related news, EVP Charles F. Meintjes sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $42.10, for a total transaction of $1,473,500.00. Following the completion of the sale, the executive vice president now directly owns 170,910 shares in the company, valued at $7,195,311. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George John Schuller, Jr. sold 12,312 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $41.13, for a total value of $506,392.56. Following the sale, the insider now owns 55,627 shares of the company’s stock, valued at $2,287,938.51. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
A number of research analysts have issued reports on BTU shares. MKM Partners reissued a “buy” rating and issued a $53.00 price target on shares of Peabody Energy in a report on Wednesday, June 6th. B. Riley upped their target price on Peabody Energy from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Peabody Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Finally, ValuEngine downgraded Peabody Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Peabody Energy currently has a consensus rating of “Buy” and an average price target of $45.33.
About Peabody Energy
Peabody Energy Corporation engages in coal mining business. The company operates through six segments: Powder River Basin Mining, Midwestern U.S. Mining, Western U.S. Mining, Australian Metallurgical Mining, Australian Thermal Mining, and Trading and Brokerage. It is involved in mining, preparation, and sale of thermal coal primarily to electric utilities; and metallurgical coal that include hard coking coal, semi-hard coking coal, semi-soft coking coal, and low-volatile pulverized coal injection for industrial customers.
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