Ascend Capital LLC purchased a new position in Arch Coal, Inc. Class A (NYSE:ARCH) during the fourth quarter, Holdings Channel reports. The fund purchased 60,843 shares of the energy company’s stock, valued at approximately $5,667,000.
Several other institutional investors and hedge funds also recently modified their holdings of ARCH. Royal Bank of Canada raised its holdings in Arch Coal, Inc. Class A by 140.6% in the 2nd quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock worth $113,000 after acquiring an additional 967 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Arch Coal, Inc. Class A in the 3rd quarter worth approximately $136,000. Ameritas Investment Partners Inc. purchased a new position in Arch Coal, Inc. Class A in the 2nd quarter worth approximately $131,000. Ontario Teachers Pension Plan Board purchased a new position in Arch Coal, Inc. Class A in the 4th quarter worth approximately $217,000. Finally, Fox Run Management L.L.C. purchased a new position in Arch Coal, Inc. Class A in the 4th quarter worth approximately $228,000. 91.48% of the stock is currently owned by hedge funds and other institutional investors.
In other Arch Coal, Inc. Class A news, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total transaction of $42,630,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.34% of the stock is currently owned by insiders.
Arch Coal, Inc. Class A (NYSE:ARCH) last announced its earnings results on Tuesday, February 13th. The energy company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $1.80. The company had revenue of $560.20 million for the quarter, compared to analysts’ expectations of $574.83 million. Arch Coal, Inc. Class A’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. equities research analysts forecast that Arch Coal, Inc. Class A will post 11.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 2nd. This is a positive change from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%.
A number of brokerages recently weighed in on ARCH. ValuEngine upgraded shares of Arch Coal, Inc. Class A from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Arch Coal, Inc. Class A from a “hold” rating to a “strong-buy” rating and set a $108.00 price objective for the company in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of Arch Coal, Inc. Class A from $90.00 to $94.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Jefferies Group set a $120.00 price objective on shares of Arch Coal, Inc. Class A and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, B. Riley reiterated a “buy” rating on shares of Arch Coal, Inc. Class A in a research note on Wednesday, November 1st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $101.25.
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.
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