Arch Resources, Inc. (NYSE:ARCH) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Arch Resources, Inc. (NYSE:ARCH) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,267 shares of the energy company’s stock after selling 4,192 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Arch Resources worth $2,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Arch Resources by 1,196.2% in the third quarter. Victory Capital Management Inc. now owns 261,725 shares of the energy company’s stock valued at $44,666,000 after buying an additional 241,534 shares during the last quarter. KGH Ltd purchased a new stake in Arch Resources during the 3rd quarter valued at about $18,431,000. Regal Partners Ltd acquired a new stake in Arch Resources in the 3rd quarter valued at about $14,396,000. Dalal Street LLC purchased a new position in Arch Resources in the 3rd quarter worth approximately $13,352,000. Finally, PointState Capital LP acquired a new position in shares of Arch Resources during the 3rd quarter worth approximately $11,549,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $165.00 price target (down previously from $180.00) on shares of Arch Resources in a report on Wednesday, April 10th. StockNews.com cut shares of Arch Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. B. Riley cut their price objective on shares of Arch Resources from $198.00 to $193.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Citigroup reiterated a “neutral” rating and issued a $170.00 target price (down from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. Finally, Benchmark restated a “buy” rating and set a $180.00 price target on shares of Arch Resources in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.00.

Insider Buying and Selling

In other Arch Resources news, Chairman John W. Eaves sold 72,946 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.03, for a total transaction of $13,497,198.38. Following the sale, the chairman now directly owns 136,725 shares in the company, valued at $25,298,226.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP John A. Ziegler sold 148 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $172.33, for a total transaction of $25,504.84. Following the completion of the transaction, the vice president now owns 23,232 shares in the company, valued at $4,003,570.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman John W. Eaves sold 72,946 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.03, for a total value of $13,497,198.38. Following the completion of the transaction, the chairman now directly owns 136,725 shares in the company, valued at approximately $25,298,226.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,884 shares of company stock valued at $18,332,042. Corporate insiders own 5.90% of the company’s stock.

Arch Resources Price Performance

Shares of ARCH opened at $156.84 on Thursday. The firm has a 50-day simple moving average of $164.07 and a two-hundred day simple moving average of $163.78. The stock has a market cap of $2.84 billion, a PE ratio of 9.23 and a beta of 0.68. Arch Resources, Inc. has a 1-year low of $102.42 and a 1-year high of $187.60. 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, topping analysts’ consensus estimates of $2.79 by $0.19. The firm had revenue of $680.19 million during the quarter, compared to analysts’ expectations of $596.52 million. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The firm’s quarterly revenue was down 21.8% on a year-over-year basis. During the same quarter last year, the company posted $10.02 EPS. As a group, analysts forecast that Arch Resources, Inc. will post 12.82 EPS for the current year.

Arch Resources Cuts Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $1.11 dividend. The ex-dividend date is Friday, May 31st. This represents a dividend yield of 0.6%. Arch Resources’s dividend payout ratio is presently 5.88%.

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.