Allspring Global Investments Holdings LLC decreased its stake in shares of Arch Resources, Inc. (NYSE:ARCH – Get Rating) by 88.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,969 shares of the energy company’s stock after selling 38,959 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arch Resources were worth $589,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in ARCH. Denali Advisors LLC acquired a new position in Arch Resources during the 2nd quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new position in Arch Resources during the 2nd quarter valued at about $32,000. Strs Ohio acquired a new position in Arch Resources during the 2nd quarter valued at about $42,000. Captrust Financial Advisors raised its position in shares of Arch Resources by 113.8% in the 2nd quarter. Captrust Financial Advisors now owns 295 shares of the energy company’s stock valued at $42,000 after acquiring an additional 157 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in shares of Arch Resources in the 3rd quarter valued at approximately $43,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.
Arch Resources Price Performance
NYSE ARCH opened at $153.99 on Tuesday. The business has a 50 day simple moving average of $145.38 and a 200 day simple moving average of $142.32. Arch Resources, Inc. has a 52-week low of $86.50 and a 52-week high of $183.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.95 and a current ratio of 2.49. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 2.92 and a beta of 0.71.
Arch Resources Dividend Announcement
The firm also recently announced a None dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were paid a dividend of $10.75 per share. The ex-dividend date was Tuesday, November 29th. This represents a yield of 7.7%. Arch Resources’s payout ratio is 1.89%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. StockNews.com downgraded shares of Arch Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 19th. B. Riley cut their price target on shares of Arch Resources from $221.00 to $207.00 in a research report on Tuesday, January 17th. Finally, BMO Capital Markets increased their price target on shares of Arch Resources from $150.00 to $185.00 in a research report on Friday, October 28th.
About Arch Resources
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.
- Get a free copy of the StockNews.com research report on Arch Resources (ARCH)
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