State Street Corp Has $152.13 Million Position in Arch Resources, Inc. (NYSE:ARCH)

State Street Corp reduced its stake in Arch Resources, Inc. (NYSE:ARCH) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,101,145 shares of the energy company’s stock after selling 51,344 shares during the period. State Street Corp owned about 6.08% of Arch Resources worth $152,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Arch Resources in the 3rd quarter valued at approximately $1,488,000. Envestnet Asset Management Inc. acquired a new stake in shares of Arch Resources in the 2nd quarter valued at approximately $8,700,000. Maverick Capital Ltd. boosted its stake in shares of Arch Resources by 55.8% in the 3rd quarter. Maverick Capital Ltd. now owns 9,795 shares of the energy company’s stock valued at $1,353,000 after purchasing an additional 3,510 shares in the last quarter. Mork Capital Management LLC boosted its stake in shares of Arch Resources by 50.0% in the 3rd quarter. Mork Capital Management LLC now owns 15,000 shares of the energy company’s stock valued at $2,072,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Arch Resources by 437.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,433 shares of the energy company’s stock valued at $8,626,000 after purchasing an additional 50,819 shares in the last quarter. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARCH. Benchmark restated a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a research note on Monday, November 18th. StockNews.com initiated coverage on shares of Arch Resources in a research report on Friday. They set a “hold” rating on the stock. B. Riley cut their target price on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Jefferies Financial Group downgraded shares of Arch Resources from a “buy” rating to a “hold” rating and lifted their target price for the stock from $155.00 to $165.00 in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Arch Resources currently has an average rating of “Hold” and a consensus target price of $173.60.

Arch Resources Stock Performance

Arch Resources stock opened at $154.13 on Friday. Arch Resources, Inc. has a 52-week low of $116.44 and a 52-week high of $187.60. The firm has a 50 day moving average price of $155.69 and a two-hundred day moving average price of $148.14. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 16.16 and a beta of 0.64.

Arch Resources (NYSE:ARCH) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($2.17). Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. The firm had revenue of $617.90 million for the quarter, compared to the consensus estimate of $587.71 million. During the same quarter in the previous year, the business posted $3.91 EPS. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. As a group, equities research analysts predict that Arch Resources, Inc. will post 5.86 EPS for the current fiscal year.

Arch Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 0.65%. Arch Resources’s payout ratio is 10.50%.

Insiders Place Their Bets

In other news, VP Deck Slone sold 253 shares of Arch Resources stock in a transaction on Monday, October 14th. The shares were sold at an average price of $144.75, for a total value of $36,621.75. Following the completion of the sale, the vice president now owns 29,120 shares in the company, valued at $4,215,120. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.40% of the company’s stock.

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.