Arch Resources, Inc. (NYSE:ARCH) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Arch Resources, Inc. (NYSE:ARCH) by 137.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 29,820 shares of the energy company’s stock after purchasing an additional 17,270 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arch Resources were worth $4,795,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. increased its stake in Arch Resources by 1,900.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 200 shares of the energy company’s stock worth $33,000 after purchasing an additional 190 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Arch Resources by 188.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 202 shares of the energy company’s stock worth $34,000 after buying an additional 132 shares during the period. CVA Family Office LLC purchased a new stake in shares of Arch Resources during the fourth quarter worth approximately $38,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Arch Resources during the fourth quarter worth approximately $52,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Arch Resources during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Arch Resources Stock Performance

Shares of ARCH stock traded up $0.38 during trading hours on Tuesday, hitting $169.03. The stock had a trading volume of 30,773 shares, compared to its average volume of 407,463. The firm has a market capitalization of $3.06 billion, a PE ratio of 9.92 and a beta of 0.64. Arch Resources, Inc. has a twelve month low of $108.25 and a twelve month high of $187.60. The stock’s 50 day moving average is $161.60 and its 200 day moving average is $165.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings data on Monday, April 29th. The energy company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.19. Arch Resources had a return on equity of 22.32% and a net margin of 10.89%. The business had revenue of $680.19 million during the quarter, compared to the consensus estimate of $596.52 million. During the same period in the prior year, the company earned $10.02 earnings per share. The company’s revenue was down 21.8% compared to the same quarter last year. As a group, research analysts forecast that Arch Resources, Inc. will post 12.82 earnings per share for the current fiscal year.

Arch Resources Cuts Dividend

The business also recently declared a None dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $1.11 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 31st. Arch Resources’s dividend payout ratio is presently 5.88%.

Analyst Ratings Changes

ARCH has been the topic of a number of recent research reports. BMO Capital Markets restated a “market perform” rating and set a $165.00 target price (down from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Benchmark reaffirmed a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a report on Monday, April 22nd. B. Riley lowered their price target on Arch Resources from $198.00 to $193.00 and set a “buy” rating for the company in a report on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price target (down from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. Finally, StockNews.com downgraded Arch Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $177.00.

Arch Resources 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.