Hourglass Capital LLC Sells 2,000 Shares of Arch Resources, Inc. (NYSE:ARCH)

Hourglass Capital LLC trimmed its holdings in shares of Arch Resources, Inc. (NYSE:ARCH) by 39.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,025 shares of the energy company’s stock after selling 2,000 shares during the quarter. Hourglass Capital LLC’s holdings in Arch Resources were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Natixis purchased a new position in Arch Resources in the first quarter worth $2,892,000. Comerica Bank boosted its position in Arch Resources by 29.6% during the first quarter. Comerica Bank now owns 22,551 shares of the energy company’s stock valued at $3,626,000 after buying an additional 5,153 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Arch Resources during the second quarter valued at about $8,700,000. Virtu Financial LLC purchased a new position in shares of Arch Resources in the first quarter worth about $604,000. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in Arch Resources during the 1st quarter valued at about $2,270,000. 88.14% of the stock is currently owned by institutional investors.

Arch Resources Stock Performance

Shares of NYSE ARCH opened at $164.87 on Thursday. The company has a 50 day simple moving average of $139.54 and a two-hundred day simple moving average of $147.39. Arch Resources, Inc. has a fifty-two week low of $116.44 and a fifty-two week high of $187.60. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 17.32 and a beta of 0.59.

Arch Resources (NYSE:ARCH) last issued its earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($2.17). Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. The firm had revenue of $617.90 million during the quarter, compared to analysts’ expectations of $587.71 million. During the same period last year, the firm posted $3.91 earnings per share. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. On average, 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 will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.61%. Arch Resources’s dividend payout ratio is presently 10.50%.

Insider Activity

In other Arch Resources news, VP Deck Slone sold 253 shares of Arch Resources stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $144.75, for a total value of $36,621.75. Following the completion of the sale, the vice president now owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. B. Riley lowered their price objective on Arch Resources from $198.00 to $188.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a report on Friday, July 26th. Jefferies Financial Group cut Arch Resources from a “buy” rating to a “hold” rating and raised their target price for the stock from $155.00 to $165.00 in a research note on Wednesday. Finally, StockNews.com started coverage on Arch Resources in a report on Monday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $173.60.

Arch Resources 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.