Barrow Hanley Mewhinney & Strauss LLC Purchases Shares of 54,282 Arch Coal Inc. (ARCH)
Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Arch Coal Inc. (NYSE:ARCH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,282 shares of the energy company’s stock, valued at approximately $3,894,000. Barrow Hanley Mewhinney & Strauss LLC owned about 0.25% of Arch Coal at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ARCH. Vanguard Group Inc. boosted its holdings in Arch Coal by 10.5% in the second quarter. Vanguard Group Inc. now owns 1,801,011 shares of the energy company’s stock valued at $123,010,000 after acquiring an additional 171,751 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Arch Coal by 242.4% during the 2nd quarter. BlackRock Inc. now owns 1,415,537 shares of the energy company’s stock worth $96,680,000 after buying an additional 1,002,176 shares in the last quarter. Davidson Kempner Capital Management LP boosted its holdings in shares of Arch Coal by 51.2% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 999,951 shares of the energy company’s stock worth $68,297,000 after buying an additional 338,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Arch Coal by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 995,469 shares of the energy company’s stock worth $67,989,000 after buying an additional 22,752 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Arch Coal by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 812,195 shares of the energy company’s stock worth $55,674,000 after buying an additional 162,743 shares in the last quarter.
A number of equities analysts have issued reports on the company. ValuEngine upgraded Arch Coal from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research cut Arch Coal from a “buy” rating to a “hold” rating in a report on Monday, November 20th. B. Riley set a $95.00 price target on Arch Coal and gave the stock a “buy” rating in a report on Tuesday, November 14th. FBR & Co restated a “buy” rating on shares of Arch Coal in a report on Tuesday, October 31st. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Arch Coal in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.00.
Arch Coal (NYSE:ARCH) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.96. The company had revenue of $613.53 million during the quarter, compared to analysts’ expectations of $550.35 million. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.43) earnings per share. equities analysts predict that Arch Coal Inc. will post 9.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, November 29th.
In other Arch Coal news, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James N. Chapman sold 1,002 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $80.99, for a total value of $81,151.98. Following the completion of the transaction, the director now owns 2,226 shares of the company’s stock, valued at approximately $180,283.74. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.
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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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