Allspring Global Investments Holdings LLC Increases Stock Position in Arch Resources, Inc. (NYSE:ARCH)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Arch Resources, Inc. (NYSE:ARCH) by 137.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,820 shares of the energy company’s stock after buying an additional 17,270 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of Arch Resources worth $4,795,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. AlphaMark Advisors LLC lifted its stake in shares of Arch Resources by 14.8% during the 1st quarter. AlphaMark Advisors LLC now owns 1,835 shares of the energy company’s stock valued at $295,000 after buying an additional 236 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Arch Resources by 1,900.0% in the 4th 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 in the last quarter. Quadrature Capital Ltd purchased a new stake in Arch Resources in the 4th quarter worth approximately $352,000. Vanguard Group Inc. lifted its stake in Arch Resources by 11.9% in the 4th quarter. Vanguard Group Inc. now owns 2,061,209 shares of the energy company’s stock worth $342,037,000 after purchasing an additional 219,094 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in Arch Resources in the 4th quarter worth approximately $53,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

Arch Resources Price Performance

Shares of NYSE:ARCH traded up $0.38 during trading on Tuesday, reaching $169.03. The company had a trading volume of 30,773 shares, compared to its average volume of 407,463. The company has a fifty day moving average of $161.60 and a two-hundred day moving average of $165.55. The stock has a market capitalization of $3.06 billion, a P/E ratio of 9.92 and a beta of 0.64. Arch Resources, Inc. has a 12 month low of $108.25 and a 12 month high of $187.60. The company has a current ratio of 2.64, a quick ratio of 1.89 and a debt-to-equity ratio of 0.07.

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

Arch Resources Cuts Dividend

The firm also recently announced 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 was Friday, May 31st. Arch Resources’s dividend payout ratio is currently 5.88%.

Analysts Set New Price Targets

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

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.