Westchester Capital Management LLC Takes $157,000 Position in Arch Resources, Inc. (NYSE:ARCH)

Westchester Capital Management LLC acquired a new stake in shares of Arch Resources, Inc. (NYSE:ARCH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,133 shares of the energy company’s stock, valued at approximately $157,000.

Other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Arch Resources by 159.5% during the 3rd quarter. FMR LLC now owns 657,654 shares of the energy company’s stock worth $90,862,000 after buying an additional 404,249 shares in the last quarter. Algert Global LLC raised its holdings in Arch Resources by 19.1% during the third quarter. Algert Global LLC now owns 9,480 shares of the energy company’s stock worth $1,310,000 after purchasing an additional 1,523 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Arch Resources by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 190,202 shares of the energy company’s stock worth $26,278,000 after purchasing an additional 11,884 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of Arch Resources by 33.1% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 49,745 shares of the energy company’s stock worth $6,873,000 after buying an additional 12,364 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Arch Resources in the third quarter valued at $1,488,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Insider Buying and Selling

In related news, VP Deck Slone sold 253 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the sale, the vice president now directly owns 29,120 shares in the company, valued at approximately $4,215,120. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ARCH has been the topic of several research reports. Benchmark reiterated a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a research report on Monday, November 18th. B. Riley reduced their target price on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating for the company in a report on Friday, September 6th. Jefferies Financial Group cut Arch Resources from a “buy” rating to a “hold” rating and upped their price target for the company from $155.00 to $165.00 in a report on Wednesday, November 13th. Finally, StockNews.com started coverage on Arch Resources in a research report on Wednesday. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $173.60.

Arch Resources Stock Performance

Arch Resources stock opened at $171.92 on Friday. The company has a 50 day moving average price of $151.19 and a 200 day moving average price of $148.44. Arch Resources, Inc. has a 52 week low of $116.44 and a 52 week high of $187.60. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.06 and a beta of 0.59.

Arch Resources (NYSE:ARCH) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). The business had revenue of $617.90 million for the quarter, compared to analysts’ expectations of $587.71 million. Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.91 EPS. Equities analysts forecast that Arch Resources, Inc. will post 5.86 earnings per share for the current fiscal year.

Arch Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, November 15th. Arch Resources’s dividend payout ratio (DPR) is 10.50%.

About Arch Resources

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.