Strs Ohio increased its position in shares of Westmoreland Coal Company (NASDAQ:WLB) by 77.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,700 shares of the coal producer’s stock after buying an additional 33,500 shares during the period. Strs Ohio owned approximately 0.41% of Westmoreland Coal worth $373,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of WLB. Wellington Management Group LLP increased its stake in Westmoreland Coal by 0.3% in the first quarter. Wellington Management Group LLP now owns 38,104 shares of the coal producer’s stock valued at $553,000 after buying an additional 108 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Westmoreland Coal by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 33,112 shares of the coal producer’s stock valued at $481,000 after buying an additional 393 shares during the period. OppenheimerFunds Inc. increased its stake in Westmoreland Coal by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock valued at $202,000 after buying an additional 579 shares during the period. Geode Capital Management LLC increased its stake in Westmoreland Coal by 0.4% in the first quarter. Geode Capital Management LLC now owns 159,882 shares of the coal producer’s stock valued at $2,320,000 after buying an additional 656 shares during the period. Finally, American International Group Inc. increased its stake in Westmoreland Coal by 7.1% in the first quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock valued at $165,000 after buying an additional 751 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.

Shares of Westmoreland Coal Company (WLB) opened at 2.21 on Thursday. Westmoreland Coal Company has a one year low of $1.88 and a one year high of $19.92. The stock’s market capitalization is $41.42 million. The company’s 50-day moving average is $3.48 and its 200-day moving average is $8.94.

Westmoreland Coal (NASDAQ:WLB) last issued its quarterly earnings results on Thursday, August 3rd. The coal producer reported ($2.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by $1.11. The firm had revenue of $323.03 million during the quarter, compared to the consensus estimate of $320.85 million. On average, equities research analysts anticipate that Westmoreland Coal Company will post ($4.32) earnings per share for the current year.

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Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Westmoreland Coal from a “hold” rating to a “strong sell” rating in a report on Thursday, August 24th. BMO Capital Markets downgraded shares of Westmoreland Coal from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $18.00 to $5.00 in a report on Thursday, August 3rd. FBR & Co set a $8.00 price objective on shares of Westmoreland Coal and gave the company a “buy” rating in a report on Saturday, June 24th. Finally, ValuEngine downgraded shares of Westmoreland Coal from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Westmoreland Coal currently has a consensus rating of “Hold” and an average price target of $11.00.

About Westmoreland Coal

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

Institutional Ownership by Quarter for Westmoreland Coal (NASDAQ:WLB)

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