Macquarie Group Ltd. Sells 289 Shares of Arch Resources, Inc. (NYSE:ARCH)

Defense World · Mar 12, 2023 17:02

Macquarie Group Ltd. trimmed its position in Arch Resources, Inc. (NYSE:ARCH – Get Rating) by 2.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,300 shares of the energy company's stock after selling 289 shares during the period. Macquarie Group Ltd. owned about 0.06% of Arch Resources worth $1,256,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Arch Resources in the second quarter valued at about $32,000. HBK Sorce Advisory LLC purchased a new stake in shares of Arch Resources during the 3rd quarter valued at approximately $39,000. Captrust Financial Advisors lifted its stake in shares of Arch Resources by 113.8% during the 2nd quarter. Captrust Financial Advisors now owns 295 shares of the energy company's stock valued at $42,000 after buying an additional 157 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Arch Resources during the 3rd quarter valued at approximately $43,000. Finally, Gladius Capital Management LP purchased a new stake in Arch Resources in the 2nd quarter worth approximately $44,000. 88.71% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms have issued reports on ARCH. StockNews.com cut shares of Arch Resources from a "buy" rating to a "hold" rating in a research note on Thursday, January 19th. B. Riley decreased their price target on shares of Arch Resources from $207.00 to $204.00 and set a "buy" rating on the stock in a report on Friday, February 17th. Finally, BMO Capital Markets increased their price target on shares of Arch Resources from $185.00 to $200.00 in a report on Friday, February 17th.

Arch Resources Price Performance

Shares of NYSE:ARCH opened at $151.59 on Friday. The company's fifty day moving average price is $148.25 and its 200-day moving average price is $144.93. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 2.37 and a beta of 0.73. Arch Resources, Inc. has a one year low of $110.97 and a one year high of $183.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.93 and a quick ratio of 1.41.

Arch Resources (NYSE:ARCH – Get Rating) last released its earnings results on Thursday, February 16th. The energy company reported $23.18 EPS for the quarter, beating the consensus estimate of $10.90 by $12.28. The company had revenue of $859.50 million for the quarter, compared to analyst estimates of $798.37 million. Arch Resources had a net margin of 35.73% and a return on equity of 114.13%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $13.19 EPS. On average, equities research analysts anticipate that Arch Resources, Inc. will post 38.17 earnings per share for the current fiscal year.

Arch Resources Cuts Dividend

The company also recently declared a None dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be issued a $3.11 dividend. This represents a yield of 0.6%. The ex-dividend date of this dividend is Monday, February 27th. Arch Resources's dividend payout ratio (DPR) is presently 1.56%.

Insiders Place Their Bets

In other news, VP John A. Ziegler sold 270 shares of the firm's stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $141.08, for a total value of $38,091.60. Following the completion of the sale, the vice president now directly owns 16,049 shares of the company's stock, valued at approximately $2,264,192.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP John A. Ziegler sold 270 shares of the firm's stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $141.08, for a total value of $38,091.60. Following the completion of the sale, the vice president now directly owns 16,049 shares of the company's stock, valued at approximately $2,264,192.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rosemary L. Klein sold 1,549 shares of the firm's stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $165.00, for a total transaction of $255,585.00. Following the completion of the sale, the vice president now directly owns 7,999 shares of the company's stock, valued at $1,319,835. The disclosure for this sale can be found here. Insiders have sold a total of 9,337 shares of company stock valued at $1,430,173 in the last quarter. Insiders own 8.00% of the company's stock.

Arch Resources Profile

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Arch Resources, Inc engages in the production and distribution of thermal coal. It operates through the following segments: Powder River Basin, Metallurgical, and Other Thermal. The Powder River Basin segment contains the company's thermal operations in Wyoming. The Metallurgical segment contains metallurgical operations in West Virginia.