Forest Avenue Capital Management LP Acquires 10,158 Shares of Arch Resources, Inc. (NYSE:ARCH)

Forest Avenue Capital Management LP raised its stake in shares of Arch Resources, Inc. (NYSE:ARCH) by 8.8% in the 2nd quarter, Holdings Channel reports. The firm owned 125,453 shares of the energy company’s stock after purchasing an additional 10,158 shares during the quarter. Arch Resources accounts for 2.6% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 18th largest holding. Forest Avenue Capital Management LP’s holdings in Arch Resources were worth $19,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Arch Resources by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 2,347,568 shares of the energy company’s stock worth $377,465,000 after acquiring an additional 286,359 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Arch Resources by 13.6% in the second quarter. Pacer Advisors Inc. now owns 1,001,093 shares of the energy company’s stock valued at $152,396,000 after buying an additional 119,505 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Arch Resources by 681.4% during the 1st quarter. Principal Financial Group Inc. now owns 108,929 shares of the energy company’s stock worth $17,515,000 after buying an additional 94,989 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Arch Resources during the 2nd quarter worth approximately $11,813,000. Finally, American Century Companies Inc. increased its stake in shares of Arch Resources by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 478,990 shares of the energy company’s stock valued at $72,917,000 after acquiring an additional 59,072 shares in the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

Arch Resources Stock Performance

NYSE ARCH opened at $128.27 on Friday. The company has a market cap of $2.32 billion, a P/E ratio of 7.55 and a beta of 0.60. The company has a fifty day simple moving average of $133.56 and a 200 day simple moving average of $152.45. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. Arch Resources, Inc. has a 12-month low of $116.44 and a 12-month high of $187.60.

Arch Resources (NYSE:ARCH) last issued its quarterly earnings data on Thursday, July 25th. The energy company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.50). Arch Resources had a net margin of 9.24% and a return on equity of 17.91%. The business had revenue of $608.75 million for the quarter, compared to analyst estimates of $562.23 million. During the same quarter in the prior year, the business earned $4.04 earnings per share. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. Sell-side analysts predict that Arch Resources, Inc. will post 10.73 earnings per share for the current fiscal year.

Arch Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, August 30th. Arch Resources’s dividend payout ratio (DPR) is presently 5.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. B. Riley cut their target price on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a research report on Friday, July 26th. Finally, StockNews.com assumed coverage on Arch Resources in a research note on Monday, September 16th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $175.75.

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.