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

Allspring Global Investments Holdings LLC lessened its holdings in Arch Resources, Inc. (NYSE:ARCH) by 61.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,614 shares of the energy company’s stock after selling 18,206 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Arch Resources worth $1,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ARCH. Vanguard Group Inc. boosted its position in shares of Arch Resources by 13.9% during the first quarter. Vanguard Group Inc. now owns 2,347,568 shares of the energy company’s stock worth $377,465,000 after buying an additional 286,359 shares during the period. Principal Financial Group Inc. boosted its holdings in Arch Resources by 681.4% during the 1st quarter. Principal Financial Group Inc. now owns 108,929 shares of the energy company’s stock valued at $17,515,000 after acquiring an additional 94,989 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Arch Resources during the 1st quarter valued at about $9,397,000. Lodge Hill Capital LLC grew its position in Arch Resources by 54.2% in the 1st quarter. Lodge Hill Capital LLC now owns 131,100 shares of the energy company’s stock valued at $21,080,000 after acquiring an additional 46,100 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Arch Resources by 248.6% during the first quarter. Empowered Funds LLC now owns 57,859 shares of the energy company’s stock worth $9,303,000 after purchasing an additional 41,263 shares during the period. Institutional investors and hedge funds own 88.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ARCH. Benchmark reissued a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a research note on Friday, July 26th. B. Riley boosted their price target on shares of Arch Resources from $192.00 to $198.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, StockNews.com assumed coverage on Arch Resources in a research note on Saturday. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $178.25.

Arch Resources Stock Down 4.6 %

Shares of Arch Resources stock opened at $130.13 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.07. Arch Resources, Inc. has a 52-week low of $116.44 and a 52-week high of $187.60. The company has a market capitalization of $2.36 billion, a P/E ratio of 7.65 and a beta of 0.64. The company has a 50 day moving average of $142.77 and a 200 day moving average of $156.03.

Arch Resources (NYSE:ARCH) last released its quarterly earnings data on Thursday, July 25th. The energy company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.50). The firm had revenue of $608.75 million for the quarter, compared to analysts’ expectations of $562.23 million. Arch Resources had a return on equity of 17.91% and a net margin of 9.24%. Arch Resources’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period last year, the firm posted $4.04 earnings per share. As a group, research analysts forecast that Arch Resources, Inc. will post 12.74 EPS for the current fiscal year.

Arch Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.77%. Arch Resources’s payout ratio is currently 5.88%.

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.