State Street Corp Sells 51,344 Shares of Arch Resources, Inc. (NYSE:ARCH)

State Street Corp lowered its stake in Arch Resources, Inc. (NYSE:ARCH) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,101,145 shares of the energy company’s stock after selling 51,344 shares during the quarter. State Street Corp owned about 0.06% of Arch Resources worth $152,134,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ARCH. Point72 Asset Management L.P. acquired a new position in Arch Resources during the third quarter worth $9,828,000. Mork Capital Management LLC raised its holdings in Arch Resources by 50.0% during the third quarter. Mork Capital Management LLC now owns 15,000 shares of the energy company’s stock worth $2,072,000 after buying an additional 5,000 shares during the last quarter. Harvest Management LLC acquired a new position in Arch Resources during the third quarter worth $1,464,000. Holocene Advisors LP raised its holdings in Arch Resources by 422.4% during the third quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after buying an additional 202,425 shares during the last quarter. Finally, Atom Investors LP raised its holdings in Arch Resources by 20.4% during the third quarter. Atom Investors LP now owns 15,276 shares of the energy company’s stock worth $2,111,000 after buying an additional 2,588 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ARCH shares. StockNews.com started coverage on shares of Arch Resources in a report on Friday. They set a “hold” rating on the stock. B. Riley lowered their price objective on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Jefferies Financial Group lowered shares of Arch Resources from a “buy” rating to a “hold” rating and upped their target price for the stock from $155.00 to $165.00 in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $173.60.

Insider Activity at Arch Resources

In other Arch Resources news, VP Deck Slone sold 253 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $144.75, for a total transaction of $36,621.75. Following the sale, the vice president now directly owns 29,120 shares of the company’s stock, valued at $4,215,120. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is owned by company insiders.

Arch Resources Price Performance

NYSE ARCH opened at $154.13 on Friday. Arch Resources, Inc. has a 1 year low of $116.44 and a 1 year high of $187.60. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 16.16 and a beta of 0.64. The company has a fifty day moving average price of $155.69 and a 200-day moving average price of $148.14.

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

Arch Resources Announces Dividend

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

About Arch Resources

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.