Jennison Associates LLC Trims Stock Holdings in Arch Resources, Inc. (NYSE:ARCH)

Jennison Associates LLC cut its stake in Arch Resources, Inc. (NYSE:ARCH) by 43.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,516 shares of the energy company’s stock after selling 1,171 shares during the period. Jennison Associates LLC’s holdings in Arch Resources were worth $209,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Alpine Associates Management Inc. bought a new position in Arch Resources during the 3rd quarter valued at $8,404,000. Quest Partners LLC acquired a new position in shares of Arch Resources in the 3rd quarter valued at $50,000. Empowered Funds LLC boosted its holdings in shares of Arch Resources by 12.1% in the third quarter. Empowered Funds LLC now owns 68,024 shares of the energy company’s stock worth $9,398,000 after buying an additional 7,364 shares during the period. Royce & Associates LP grew its position in Arch Resources by 137.2% during the 3rd quarter. Royce & Associates LP now owns 10,817 shares of the energy company’s stock worth $1,494,000 after purchasing an additional 6,256 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Arch Resources by 43.3% in the 3rd quarter. KBC Group NV now owns 569 shares of the energy company’s stock valued at $79,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 88.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARCH shares. Jefferies Financial Group lowered Arch Resources from a “buy” rating to a “hold” rating and upped their target price for the stock from $155.00 to $165.00 in a research report on Wednesday, November 13th. StockNews.com initiated coverage on shares of Arch Resources in a research report on Tuesday, November 19th. They set a “hold” rating for the company. B. Riley lowered their target price on Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Finally, Benchmark restated a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Arch Resources currently has a consensus rating of “Hold” and an average price target of $173.60.

Insiders Place Their Bets

In other news, VP Deck Slone sold 253 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $144.75, for a total value of $36,621.75. Following the transaction, the vice president now owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.40% of the company’s stock.

Arch Resources Trading Down 0.6 %

ARCH stock opened at $173.64 on Monday. The business’s 50 day moving average is $146.57 and its 200-day moving average is $147.82. The firm has a market cap of $3.14 billion, a P/E ratio of 18.24 and a beta of 0.59. Arch Resources, Inc. has a 1-year low of $116.44 and a 1-year high of $187.60.

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

Arch Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be paid 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 is Friday, November 15th. Arch Resources’s dividend payout ratio is presently 10.50%.

Arch Resources Company Profile

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.