K2 Principal Fund L.P. Makes New $345,000 Investment in Arch Resources, Inc. (NYSE:ARCH)

K2 Principal Fund L.P. acquired a new stake in Arch Resources, Inc. (NYSE:ARCH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,500 shares of the energy company’s stock, valued at approximately $345,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Arch Resources in the 3rd quarter valued at about $9,828,000. Mork Capital Management LLC grew its position in shares of Arch Resources by 50.0% in the third quarter. Mork Capital Management LLC now owns 15,000 shares of the energy company’s stock valued at $2,072,000 after purchasing an additional 5,000 shares during the last quarter. Harvest Management LLC acquired a new stake in Arch Resources during the 3rd quarter worth approximately $1,464,000. Holocene Advisors LP lifted its holdings in Arch Resources by 422.4% during the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after purchasing an additional 202,425 shares during the last quarter. Finally, Atom Investors LP boosted its stake in Arch Resources by 20.4% in the 3rd quarter. Atom Investors LP now owns 15,276 shares of the energy company’s stock valued at $2,111,000 after purchasing an additional 2,588 shares during the period. Institutional investors and hedge funds own 88.14% of the company’s stock.

Wall Street Analyst Weigh In

ARCH has been the subject of a number of research reports. Benchmark reissued a “buy” rating and set a $180.00 target price on shares of Arch Resources in a report on Monday, November 18th. B. Riley dropped their price objective on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Jefferies Financial Group lowered shares of Arch Resources from a “buy” rating to a “hold” rating and increased their target price for the stock from $155.00 to $165.00 in a research report on Wednesday, November 13th. Finally, StockNews.com assumed coverage on shares of Arch Resources in a research report on Thursday. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $173.60.

Insider Activity

In other news, VP Deck Slone sold 253 shares of the 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 completion of the transaction, the vice president now owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company’s stock.

Arch Resources Stock Down 5.6 %

ARCH opened at $155.29 on Friday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 16.31 and a beta of 0.64. Arch Resources, Inc. has a twelve month low of $116.44 and a twelve month high of $187.60. The company has a 50-day simple moving average of $154.19 and a 200 day simple moving average of $148.43.

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

Arch Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was 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.