10,600 Shares in Arch Resources, Inc. (NYSE:ARCH) Bought by Harvest Management LLC

Harvest Management LLC bought a new position in shares of Arch Resources, Inc. (NYSE:ARCH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,600 shares of the energy company’s stock, valued at approximately $1,464,000. Arch Resources makes up approximately 0.7% of Harvest Management LLC’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Arch Resources in the 3rd quarter worth about $1,488,000. Comerica Bank lifted its stake in Arch Resources by 29.6% in the first quarter. Comerica Bank now owns 22,551 shares of the energy company’s stock valued at $3,626,000 after acquiring an additional 5,153 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Arch Resources during the 2nd quarter valued at about $8,700,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Arch Resources by 437.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 62,433 shares of the energy company’s stock worth $8,626,000 after buying an additional 50,819 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its stake in Arch Resources by 55.8% during the 3rd quarter. Maverick Capital Ltd. now owns 9,795 shares of the energy company’s stock valued at $1,353,000 after purchasing an additional 3,510 shares during the period. Institutional investors and hedge funds own 88.14% of the company’s stock.

Analyst Ratings Changes

ARCH has been the topic of several analyst reports. Jefferies Financial Group lowered 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 report on Wednesday, November 13th. StockNews.com initiated coverage on Arch Resources in a research note on Wednesday, November 27th. They set a “hold” rating on the stock. B. Riley decreased 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 issued a $180.00 price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $173.60.

Insider Activity at Arch Resources

In other news, VP Deck Slone sold 253 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the transaction, the vice president now owns 29,120 shares in the company, valued at approximately $4,215,120. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by insiders.

Arch Resources Price Performance

Shares of NYSE ARCH opened at $168.80 on Tuesday. Arch Resources, Inc. has a fifty-two week low of $116.44 and a fifty-two week high of $187.60. The stock has a market capitalization of $3.06 billion, a PE ratio of 17.73 and a beta of 0.59. The business has a fifty day moving average price of $152.00 and a two-hundred day moving average price of $148.39.

Arch Resources (NYSE:ARCH) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. The firm had revenue of $617.90 million for the quarter, compared to the consensus estimate of $587.71 million. During the same quarter in the prior year, the firm earned $3.91 EPS. The company’s revenue was down 17.0% on a year-over-year basis. On average, equities analysts expect that Arch Resources, Inc. will post 5.86 EPS for the current 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, November 15th. Arch Resources’s payout ratio is presently 10.50%.

Arch Resources Company 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.