Franklin Resources Inc. Increases Position in Arch Resources, Inc. (NYSE:ARCH)

Franklin Resources Inc. boosted its holdings in Arch Resources, Inc. (NYSE:ARCH) by 7.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,240 shares of the energy company’s stock after purchasing an additional 843 shares during the quarter. Franklin Resources Inc. owned about 0.07% of Arch Resources worth $1,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Arch Resources in the third quarter worth approximately $1,488,000. Barclays PLC boosted its holdings in Arch Resources by 143.8% in the third quarter. Barclays PLC now owns 51,602 shares of the energy company’s stock worth $7,130,000 after purchasing an additional 30,437 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in Arch Resources in the 2nd quarter worth approximately $8,700,000. Maverick Capital Ltd. grew its position in Arch Resources by 55.8% in the 3rd quarter. Maverick Capital Ltd. now owns 9,795 shares of the energy company’s stock worth $1,353,000 after purchasing an additional 3,510 shares during the period. Finally, Mork Capital Management LLC raised its stake in Arch Resources by 50.0% during the 3rd quarter. Mork Capital Management LLC now owns 15,000 shares of the energy company’s stock valued at $2,072,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARCH. Benchmark reiterated a “buy” rating and set a $180.00 target price on shares of Arch Resources in a research note on Monday, November 18th. StockNews.com began coverage on shares of Arch Resources in a research note on Saturday, December 21st. They set a “hold” rating for the company. Jefferies Financial Group lowered shares of Arch Resources from a “buy” rating to a “hold” rating and boosted their target price for the company from $155.00 to $165.00 in a research note on Wednesday, November 13th. Finally, B. Riley decreased their target price on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $173.60.

Arch Resources Stock Performance

Shares of Arch Resources stock opened at $136.56 on Friday. The company has a market capitalization of $2.47 billion, a P/E ratio of 14.34 and a beta of 0.64. The company has a fifty day moving average of $155.75 and a 200 day moving average of $146.11. Arch Resources, Inc. has a fifty-two week low of $116.44 and a fifty-two week high of $187.60.

Arch Resources (NYSE:ARCH) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported ($0.34) EPS for the quarter, missing the consensus estimate of $1.83 by ($2.17). Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The company had revenue of $617.90 million for the quarter, compared to the consensus estimate of $587.71 million. During the same period last year, the company earned $3.91 EPS. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. Analysts forecast that Arch Resources, Inc. will post 5.86 EPS for the current year.

Arch Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, November 15th. Arch Resources’s payout ratio is 10.50%.

Insider Activity at Arch Resources

In other news, VP Deck Slone sold 253 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $144.75, for a total transaction of $36,621.75. Following the transaction, the vice president now directly owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.40% of the stock is owned by insiders.

About Arch Resources

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.