Arch Coal, Inc. Class A (NYSE:ARCH) hit a new 52-week high during trading on Monday . The stock traded as high as $99.84 and last traded at $99.47, with a volume of 155300 shares traded. The stock had previously closed at $97.79.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Arch Coal, Inc. Class A from a “hold” rating to a “strong-buy” rating and set a $108.00 price target for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. upped their target price on Arch Coal, Inc. Class A from $90.00 to $94.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. ValuEngine raised Arch Coal, Inc. Class A from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus set a $109.00 target price on Arch Coal, Inc. Class A and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Arch Coal, Inc. Class A in a research report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $101.25.
The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.40 and a current ratio of 2.49.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be given a $0.40 dividend. This is an increase from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 2nd. This represents a $1.60 annualized dividend and a dividend yield of 1.62%.
In related news, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $85.26, for a total value of $42,630,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.34% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Arch Coal, Inc. Class A by 140.6% in the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock valued at $113,000 after purchasing an additional 967 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Arch Coal, Inc. Class A in the second quarter valued at about $131,000. Envestnet Asset Management Inc. boosted its holdings in Arch Coal, Inc. Class A by 100.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,449 shares of the energy company’s stock valued at $135,000 after purchasing an additional 725 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Arch Coal, Inc. Class A in the third quarter valued at about $136,000. Finally, B. Riley Financial Inc. purchased a new position in Arch Coal, Inc. Class A in the third quarter valued at about $215,000. 91.48% of the stock is owned by hedge funds and other institutional investors.
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About Arch Coal, Inc. Class A
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.
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