Arch Resources, Inc. (NYSE:ARCH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Arch Resources, Inc. (NYSE:ARCH) by 19.0% during the third quarter, HoldingsChannel.com reports. The fund owned 85,213 shares of the energy company’s stock after selling 20,050 shares during the period. Principal Financial Group Inc.’s holdings in Arch Resources were worth $11,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Arch Resources by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 176,014 shares of the energy company’s stock worth $26,795,000 after acquiring an additional 2,910 shares in the last quarter. Regal Partners Ltd raised its stake in Arch Resources by 9.7% during the 2nd quarter. Regal Partners Ltd now owns 132,029 shares of the energy company’s stock valued at $20,099,000 after purchasing an additional 11,676 shares during the period. TD Asset Management Inc purchased a new stake in shares of Arch Resources in the second quarter valued at $578,000. Hourglass Capital LLC boosted its position in shares of Arch Resources by 24.8% in the second quarter. Hourglass Capital LLC now owns 5,025 shares of the energy company’s stock worth $765,000 after buying an additional 1,000 shares during the period. Finally, Gallacher Capital Management LLC grew its holdings in shares of Arch Resources by 5.4% during the second quarter. Gallacher Capital Management LLC now owns 2,877 shares of the energy company’s stock valued at $438,000 after buying an additional 147 shares in the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARCH. B. Riley reduced 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. StockNews.com assumed coverage on shares of Arch Resources in a research report on Sunday. They issued a “hold” rating for the company. Benchmark reaffirmed a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a research report on Monday, November 18th. Finally, Jefferies Financial Group lowered shares of Arch Resources from a “buy” rating to a “hold” rating and upped their price objective for the company from $155.00 to $165.00 in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $173.60.

Insider Activity

In other Arch Resources news, VP Deck Slone sold 253 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 29,120 shares of the company’s stock, valued at $4,215,120. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by insiders.

Arch Resources Price Performance

ARCH opened at $136.56 on Monday. The company has a market capitalization of $2.47 billion, a PE ratio of 14.34 and a beta of 0.64. Arch Resources, Inc. has a fifty-two week low of $116.44 and a fifty-two week high of $187.60. The business has a 50-day moving average of $155.75 and a 200-day moving average of $145.93.

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 the consensus estimate of $1.83 by ($2.17). The business had revenue of $617.90 million for the quarter, compared to the consensus estimate of $587.71 million. Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. Arch Resources’s revenue was down 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.91 EPS. On average, equities research analysts expect that Arch Resources, Inc. will post 5.86 earnings per share for the current fiscal year.

Arch Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. Arch Resources’s dividend payout ratio (DPR) 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.