State Street Corp Decreases Stock Position in Arch Resources, Inc. (NYSE:ARCH)

State Street Corp trimmed its holdings in shares of Arch Resources, Inc. (NYSE:ARCH - Free Report) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,101,145 shares of the energy company's stock after selling 51,344 shares during the period. State Street Corp owned 6.08% of Arch Resources worth $152,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Arch Resources during the third quarter worth approximately $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 purchasing an additional 5,000 shares in the last quarter. Harvest Management LLC purchased a new stake in shares of Arch Resources during the 3rd quarter worth approximately $1,464,000. Holocene Advisors LP boosted its holdings in shares of Arch Resources by 422.4% in the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company's stock valued at $34,588,000 after buying an additional 202,425 shares in the last quarter. Finally, Atom Investors LP boosted its holdings in shares of Arch Resources by 20.4% in the 3rd quarter. Atom Investors LP now owns 15,276 shares of the energy company's stock valued at $2,111,000 after buying an additional 2,588 shares in the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARCH has been the subject of a number of research reports. Jefferies Financial Group cut shares of Arch Resources from a "buy" rating to a "hold" rating and boosted their price target for the company from $155.00 to $165.00 in a research report on Wednesday, November 13th. StockNews.com started coverage on Arch Resources in a research report on Friday. They issued a "hold" rating for the company. B. Riley reduced their price objective on Arch Resources from $198.00 to $188.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Finally, Benchmark restated a "buy" rating and set a $180.00 target price on shares of Arch Resources in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $173.60.

Arch Resources Stock Down 0.9 %

NYSE:ARCH traded down $1.47 during midday trading on Friday, reaching $154.23. The stock had a trading volume of 144,858 shares, compared to its average volume of 388,523. The stock has a market cap of $2.79 billion, a P/E ratio of 16.19 and a beta of 0.64. The firm has a fifty day simple moving average of $156.01 and a two-hundred day simple moving average of $148.02. Arch Resources, Inc. has a 12-month low of $116.44 and a 12-month high of $187.60.

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

Arch Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, November 15th. Arch Resources's dividend payout ratio (DPR) is 10.50%.

Insider Activity

In other Arch Resources news, VP Deck Slone sold 253 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 29,120 shares of the company's stock, valued at approximately $4,215,120. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

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.