The Westmoreland Coal Co. (WLB) Shares Bought by Wells Fargo & Company MN

The Westmoreland Coal Co. (WLB) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its position in shares of Westmoreland Coal Co. (NASDAQ:WLB) by 216.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,879 shares of the company’s stock after buying an additional 10,869 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of Westmoreland Coal worth $141,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. American International Group Inc. increased its stake in Westmoreland Coal by 1.1% in the second quarter. American International Group Inc. now owns 10,602 shares of the company’s stock valued at $101,000 after buying an additional 114 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock valued at $172,000 after buying an additional 806 shares during the last quarter. Monarch Partners Asset Management LLC increased its stake in Westmoreland Coal by 11.1% in the second quarter. Monarch Partners Asset Management LLC now owns 20,990 shares of the company’s stock valued at $200,000 after buying an additional 2,090 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Westmoreland Coal by 66.6% in the second quarter. Panagora Asset Management Inc. now owns 23,795 shares of the company’s stock valued at $226,000 after buying an additional 9,515 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Westmoreland Coal by 101.6% in the second quarter. Nisa Investment Advisors LLC now owns 25,000 shares of the company’s stock valued at $238,000 after buying an additional 12,600 shares during the last quarter. 66.67% of the stock is owned by hedge funds and other institutional investors.

Westmoreland Coal Co. (NASDAQ:WLB) traded up 0.90% on Friday, reaching $16.78. The company’s stock had a trading volume of 211,932 shares. The firm has a 50-day moving average price of $17.97 and a 200 day moving average price of $11.97. The firm’s market capitalization is $311.62 billion. Westmoreland Coal Co. has a 52-week low of $4.42 and a 52-week high of $19.92.

Westmoreland Coal (NASDAQ:WLB) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.85. The business earned $370.70 million during the quarter, compared to the consensus estimate of $387 million. During the same quarter in the previous year, the company earned ($2.59) EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Westmoreland Coal Co. will post $0.70 earnings per share for the current fiscal year.

WLB has been the subject of several recent research reports. FBR & Co set a $12.00 price target on Westmoreland Coal and gave the stock an “outperform” rating in a report on Thursday, October 13th. Zacks Investment Research downgraded Westmoreland Coal from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 18th. Finally, Seaport Global Securities initiated coverage on Westmoreland Coal in a report on Friday, November 4th. They set a “buy” rating and a $20.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Westmoreland Coal has an average rating of “Buy” and an average price target of $13.45.

In related news, major shareholder Mangrove Partners Fund (Cayman sold 39,886 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $19.10, for a total transaction of $761,822.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer S. Grafton sold 8,065 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $18.46, for a total value of $148,879.90. The disclosure for this sale can be found here. 1.84% of the stock is owned by insiders.

About Westmoreland Coal

Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.

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