Arch Coal Inc. (ARCH) Major Shareholder Sells $42,630,000.00 in Stock
Arch Coal Inc. (NYSE:ARCH) major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $85.26, for a total value of $42,630,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Arch Coal Inc. (ARCH) opened at $85.38 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.79 and a quick ratio of 2.40. Arch Coal Inc. has a 12 month low of $60.13 and a 12 month high of $88.00.
Arch Coal (NYSE:ARCH) last released its earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.96. The business had revenue of $613.53 million for the quarter, compared to the consensus estimate of $550.35 million. During the same quarter in the previous year, the company earned ($1.43) earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts anticipate that Arch Coal Inc. will post 9.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, November 29th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Arch Coal during the second quarter worth $104,000. Royal Bank of Canada lifted its stake in Arch Coal by 140.6% during the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock worth $113,000 after purchasing an additional 967 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Arch Coal during the third quarter worth $136,000. Ameritas Investment Partners Inc. bought a new stake in Arch Coal during the second quarter worth $131,000. Finally, Meeder Asset Management Inc. bought a new stake in Arch Coal during the third quarter worth $155,000.
A number of equities research analysts recently issued reports on the company. FBR & Co set a $96.00 price target on Arch Coal and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Macquarie assumed coverage on Arch Coal in a research report on Thursday, September 7th. They set a “neutral” rating and a $84.00 price target on the stock. Zacks Investment Research raised Arch Coal from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Stifel Nicolaus set a $92.00 price target on Arch Coal and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Jefferies Group reissued a “buy” rating on shares of Arch Coal in a research report on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Arch Coal presently has a consensus rating of “Buy” and a consensus price target of $93.00.
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Arch Coal Company Profile
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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