Truist Financial Corp lifted its position in shares of Arch Resources, Inc. (NYSE:ARCH – Free Report) by 16.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,322 shares of the energy company’s stock after acquiring an additional 1,312 shares during the quarter. Truist Financial Corp’s holdings in Arch Resources were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Maple Rock Capital Partners Inc. increased its stake in Arch Resources by 11.3% during the third quarter. Maple Rock Capital Partners Inc. now owns 438,939 shares of the energy company’s stock valued at $74,909,000 after purchasing an additional 44,700 shares during the last quarter. Barclays PLC grew its position in shares of Arch Resources by 15.8% during the 3rd quarter. Barclays PLC now owns 339,666 shares of the energy company’s stock valued at $57,967,000 after buying an additional 46,253 shares during the last quarter. American Century Companies Inc. raised its stake in Arch Resources by 10.8% during the third quarter. American Century Companies Inc. now owns 271,341 shares of the energy company’s stock worth $46,307,000 after acquiring an additional 26,549 shares during the period. Victory Capital Management Inc. raised its stake in Arch Resources by 1,196.2% during the third quarter. Victory Capital Management Inc. now owns 261,725 shares of the energy company’s stock worth $44,666,000 after acquiring an additional 241,534 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Arch Resources by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 240,980 shares of the energy company’s stock worth $41,126,000 after acquiring an additional 6,577 shares during the last quarter. 88.14% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating and set a $170.00 price target (down from $185.00) on shares of Arch Resources in a research report on Thursday, April 18th. Benchmark reaffirmed a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a research report on Monday, April 22nd. B. Riley cut their target price on Arch Resources from $198.00 to $193.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. StockNews.com lowered shares of Arch Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $165.00 price objective (down from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $177.00.
Read Our Latest Analysis on Arch Resources
Insider Transactions at Arch Resources
In related news, Director James N. Chapman sold 2,005 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $184.08, for a total transaction of $369,080.40. Following the sale, the director now owns 1,219 shares of the company’s stock, valued at $224,393.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director James N. Chapman sold 2,005 shares of Arch Resources stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $184.08, for a total transaction of $369,080.40. Following the transaction, the director now directly owns 1,219 shares of the company’s stock, valued at $224,393.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman John W. Eaves sold 72,946 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.03, for a total transaction of $13,497,198.38. Following the completion of the sale, the chairman now owns 136,725 shares in the company, valued at $25,298,226.75. The disclosure for this sale can be found here. In the last three months, insiders sold 99,621 shares of company stock valued at $18,286,719. Company insiders own 5.40% of the company’s stock.
Arch Resources Stock Down 0.8 %
ARCH opened at $160.90 on Friday. The stock’s 50 day moving average price is $163.08 and its 200 day moving average price is $164.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89. The stock has a market cap of $2.92 billion, a P/E ratio of 9.46 and a beta of 0.68. Arch Resources, Inc. has a 12 month low of $102.42 and a 12 month high of $187.60.
Arch Resources (NYSE:ARCH – Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The energy company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.19. The company had revenue of $680.19 million for the quarter, compared to analyst estimates of $596.52 million. Arch Resources had a return on equity of 22.32% and a net margin of 10.89%. The company’s quarterly revenue was down 21.8% compared to the same quarter last year. During the same period last year, the company earned $10.02 earnings per share. As a group, research analysts predict that Arch Resources, Inc. will post 12.82 earnings per share for the current year.
Arch Resources Cuts Dividend
The business also recently declared a None dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $1.11 per share. The ex-dividend date is Friday, May 31st. This represents a dividend yield of 0.6%. Arch Resources’s dividend payout ratio (DPR) is 5.88%.
Arch Resources Company Profile
Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.
Further Reading
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Source: defenseworld.net
