Wedge Capital Management L L P NC Purchases 25,159 Shares of Arch Resources, Inc. (NYSE:ARCH)

Wedge Capital Management L L P NC lifted its position in Arch Resources, Inc. (NYSE:ARCHGet Rating) by 121.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,932 shares of the energy company’s stock after buying an additional 25,159 shares during the period. Wedge Capital Management L L P NC’s holdings in Arch Resources were worth $6,572,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ARCH. Raymond James Financial Services Advisors Inc. bought a new position in Arch Resources in the 4th quarter valued at approximately $324,000. Teacher Retirement System of Texas raised its stake in shares of Arch Resources by 20.1% in the fourth quarter. Teacher Retirement System of Texas now owns 2,948 shares of the energy company’s stock worth $269,000 after purchasing an additional 493 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Arch Resources during the fourth quarter valued at $911,000. Renaissance Technologies LLC bought a new position in shares of Arch Resources during the fourth quarter valued at $21,652,000. Finally, Diametric Capital LP boosted its position in shares of Arch Resources by 198.6% during the fourth quarter. Diametric Capital LP now owns 17,932 shares of the energy company’s stock valued at $1,638,000 after buying an additional 11,927 shares during the last quarter. Hedge funds and other institutional investors own 95.31% of the company’s stock.

Arch Resources Stock Down 2.2 %

ARCH stock opened at $125.27 on Wednesday. The business’s 50-day moving average is $142.05 and its two-hundred day moving average is $150.20. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 2.55 and a beta of 0.49. Arch Resources, Inc. has a fifty-two week low of $73.54 and a fifty-two week high of $183.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 2.48.

Arch Resources (NYSE:ARCHGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The energy company reported $19.30 earnings per share for the quarter, missing the consensus estimate of $21.86 by ($2.56). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $995.00 million. Arch Resources had a return on equity of 126.97% and a net margin of 29.26%. As a group, analysts forecast that Arch Resources, Inc. will post 59.31 earnings per share for the current year.

Arch Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, August 30th. Arch Resources’s payout ratio is 2.04%.

Insider Activity

In related news, Director James N. Chapman bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average cost of $123.10 per share, with a total value of $123,100.00. Following the acquisition, the director now owns 3,224 shares in the company, valued at $396,874.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ARCH. B. Riley decreased their target price on Arch Resources from $234.00 to $221.00 in a research report on Friday, July 29th. Jefferies Financial Group upgraded shares of Arch Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from $160.00 to $225.00 in a research report on Tuesday, June 7th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $149.40.

Arch Resources Company Profile

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Arch Resources, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2021, the company operated seven active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 952 acres of coal land in Maryland; 10,095 acres of coal land in Virginia; 306,033 acres of coal land in West Virginia; 81,470 acres of coal land in Wyoming; 234,543 acres of coal land in Illinois; 33,047 acres of coal land in Kentucky; 362 acres of coal land in Montana; 248 acres of coal land in Pennsylvania; and 19,018 acres of coal land in Colorado, as well as smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.

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Institutional Ownership by Quarter for Arch Resources (NYSE:ARCH)

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