Boothbay Fund Management LLC bought a new position in shares of Arch Coal Inc. (NYSE:ARCH) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,684 shares of the energy company’s stock, valued at approximately $336,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in shares of Arch Coal by 9.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 62,379 shares of the energy company’s stock worth $4,301,000 after acquiring an additional 5,289 shares during the period. Bank of America Corp DE grew its holdings in shares of Arch Coal by 3.3% in the 1st quarter. Bank of America Corp DE now owns 11,478 shares of the energy company’s stock worth $792,000 after acquiring an additional 370 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Arch Coal in the 2nd quarter worth approximately $164,000. Rhumbline Advisers acquired a new stake in shares of Arch Coal in the 2nd quarter worth approximately $1,874,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Arch Coal by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 995,469 shares of the energy company’s stock worth $67,989,000 after acquiring an additional 22,752 shares during the period.
In other Arch Coal news, Director James N. Chapman sold 1,002 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $80.99, for a total transaction of $81,151.98. Following the transaction, the director now owns 2,226 shares of the company’s stock, valued at approximately $180,283.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.34% of the company’s stock.
ARCH has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating on shares of Arch Coal in a report on Wednesday, November 1st. MKM Partners reiterated a “buy” rating and set a $104.00 target price on shares of Arch Coal in a report on Tuesday, September 12th. FBR & Co reiterated a “buy” rating on shares of Arch Coal in a report on Tuesday, October 31st. ValuEngine upgraded Arch Coal from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, J P Morgan Chase & Co upgraded Arch Coal from a “neutral” rating to an “overweight” rating and increased their target price for the company from $80.00 to $90.00 in a report on Thursday, August 31st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $93.00.
Shares of Arch Coal Inc. (NYSE ARCH) opened at $86.86 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.46. Arch Coal Inc. has a fifty-two week low of $60.13 and a fifty-two week high of $88.00.
Arch Coal (NYSE:ARCH) last announced its earnings results on Tuesday, October 31st. The energy company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.96. The company had revenue of $613.53 million for the quarter, compared to analyst estimates of $550.35 million. Arch Coal’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted ($1.43) EPS. equities research analysts anticipate that Arch Coal Inc. will post 9.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, November 29th.
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About Arch Coal
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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