Bank of Montreal Can cut its holdings in shares of Arch Coal Inc (NYSE:ARCH) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,126 shares of the energy company’s stock after selling 4,310 shares during the period. Bank of Montreal Can owned 0.11% of Arch Coal worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in ARCH. Tower Research Capital LLC TRC acquired a new position in Arch Coal during the 2nd quarter valued at about $105,000. Trilogy Capital Inc. acquired a new stake in shares of Arch Coal in the 2nd quarter valued at approximately $173,000. Jane Street Group LLC acquired a new stake in shares of Arch Coal in the 2nd quarter valued at approximately $237,000. IndexIQ Advisors LLC acquired a new stake in shares of Arch Coal in the 2nd quarter valued at approximately $335,000. Finally, Meeder Asset Management Inc. raised its position in shares of Arch Coal by 80.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,368 shares of the energy company’s stock valued at $343,000 after acquiring an additional 1,948 shares during the period. Institutional investors own 45.94% of the company’s stock.
NYSE ARCH opened at $94.28 on Friday. Arch Coal Inc has a 52-week low of $75.09 and a 52-week high of $102.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.62 and a quick ratio of 2.13. The company has a market cap of $1.77 billion, a P/E ratio of 8.30 and a beta of -0.11.
Arch Coal (NYSE:ARCH) last posted its earnings results on Tuesday, October 23rd. The energy company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $3.31. Arch Coal had a return on equity of 49.50% and a net margin of 13.03%. The business had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $562.34 million. During the same period in the prior year, the business earned $2.54 EPS. Arch Coal’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Arch Coal Inc will post 15.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 1.70%. Arch Coal’s payout ratio is 14.08%.
A number of brokerages recently weighed in on ARCH. MKM Partners set a $126.00 price target on shares of Arch Coal and gave the company a “buy” rating in a research report on Thursday. ValuEngine downgraded shares of Arch Coal from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. B. Riley increased their price target on shares of Arch Coal from $106.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, October 24th. Macquarie set a $101.00 price target on shares of Arch Coal and gave the company a “hold” rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded shares of Arch Coal from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Tuesday, October 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Arch Coal has a consensus rating of “Buy” and a consensus price target of $105.88.
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Arch Coal Company Profile
Arch Coal, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2017, the company operated 9 active mines located in Wyoming, West Virginia, Kentucky, Virginia, Colorado, and Illinois. It also owned or controlled, primarily through long-term leases, approximately 28,292 acres of coal land in Ohio; 1,060 acres of coal land in Maryland; 10,108 acres of coal land in Virginia; 359,160 acres of coal land in West Virginia; 98,488 acres of coal land in Wyoming; 267,857 acres of coal land in Illinois; 34,446 acres of coal land in Kentucky; 9,840 acres of coal land in Montana; 21,802 acres of coal land in New Mexico; 358 acres of coal land in Pennsylvania; and 20,165 acres of coal land in Colorado, as well as owned or controlled through long-term leases smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.
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