Credit Suisse AG Boosts Stake in Arch Coal, Inc. Class A (ARCH)

Credit Suisse AG increased its stake in Arch Coal, Inc. Class A (NASDAQ:ARCH) by 160.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,676 shares of the energy company’s stock after buying an additional 17,662 shares during the period. Credit Suisse AG’s holdings in Arch Coal, Inc. Class A were worth $1,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OppenheimerFunds Inc. bought a new position in shares of Arch Coal, Inc. Class A during the first quarter valued at about $227,270,000. State Street Corp raised its position in shares of Arch Coal, Inc. Class A by 3,567.0% in the first quarter. State Street Corp now owns 660,065 shares of the energy company’s stock valued at $45,504,000 after buying an additional 642,065 shares during the period. Jennison Associates LLC bought a new position in shares of Arch Coal, Inc. Class A during the first quarter valued at about $31,639,000. Ameriprise Financial Inc. raised its position in shares of Arch Coal, Inc. Class A by 183.6% in the first quarter. Ameriprise Financial Inc. now owns 649,452 shares of the energy company’s stock valued at $44,772,000 after buying an additional 420,414 shares during the period. Finally, Systematic Financial Management LP raised its position in shares of Arch Coal, Inc. Class A by 92.7% in the first quarter. Systematic Financial Management LP now owns 560,460 shares of the energy company’s stock valued at $38,638,000 after buying an additional 269,563 shares during the period.

Arch Coal, Inc. Class A (NASDAQ ARCH) traded up 0.34% during mid-day trading on Thursday, reaching $76.80. 70,025 shares of the company’s stock traded hands. The firm has a market cap of $1.87 billion and a price-to-earnings ratio of 1.07. The firm’s 50-day moving average price is $72.12 and its 200 day moving average price is $71.02. Arch Coal, Inc. Class A has a one year low of $0.04 and a one year high of $86.47.

Arch Coal, Inc. Class A (NASDAQ:ARCH) last issued its quarterly earnings data on Thursday, July 27th. The energy company reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by $0.07. The business had revenue of $549.87 million for the quarter, compared to analyst estimates of $596.76 million. Arch Coal, Inc. Class A’s revenue was up 30.8% compared to the same quarter last year. On average, equities analysts forecast that Arch Coal, Inc. Class A will post $9.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.35 dividend. This is a boost from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.03. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, August 29th.

COPYRIGHT VIOLATION WARNING: This piece was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/2800317/credit-suisse-ag-boosts-stake-in-arch-coal-inc-class-a-arch.html.

Several research analysts recently issued reports on ARCH shares. Stifel Nicolaus cut their target price on shares of Arch Coal, Inc. Class A from $96.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, May 19th. FBR & Co upped their target price on shares of Arch Coal, Inc. Class A from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Arch Coal, Inc. Class A in a research report on Friday, July 7th. MKM Partners reiterated a “buy” rating and issued a $89.00 target price (up from $86.00) on shares of Arch Coal, Inc. Class A in a research report on Tuesday, May 9th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Arch Coal, Inc. Class A in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Arch Coal, Inc. Class A presently has an average rating of “Buy” and a consensus target price of $91.67.

Arch Coal, Inc. Class A Company Profile

Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.

Want to see what other hedge funds are holding ARCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Coal, Inc. Class A (NASDAQ:ARCH).

Institutional Ownership by Quarter for Arch Coal, Inc. Class A (NASDAQ:ARCH)

Receive News & Ratings for Arch Coal Inc. Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Coal Inc. Class A and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.