Nomura Holdings Inc. Makes New Investment in Arch Resources, Inc. (NYSE:ARCH)

Financial News Live · Mar 12, 2023 22:54

Nomura Holdings Inc. acquired a new position in shares of Arch Resources, Inc. (NYSE:ARCH – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,568 shares of the energy company's stock, valued at approximately $3,147,000.

Several other hedge funds also recently made changes to their positions in ARCH. Point72 Hong Kong Ltd acquired a new stake in shares of Arch Resources during the second quarter worth about $32,000. HBK Sorce Advisory LLC acquired a new stake in shares of Arch Resources during the third quarter worth about $39,000. Captrust Financial Advisors boosted its stake in shares of Arch Resources by 113.8% during the second quarter. Captrust Financial Advisors now owns 295 shares of the energy company's stock worth $42,000 after buying an additional 157 shares during the period. Byrne Asset Management LLC acquired a new stake in shares of Arch Resources during the third quarter worth about $43,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Arch Resources during the second quarter worth about $44,000. Hedge funds and other institutional investors own 88.71% of the company's stock.

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Arch Resources Price Performance

Shares of NYSE:ARCH opened at $151.59 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.93 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.65 billion, a P/E ratio of 2.37 and a beta of 0.73. Arch Resources, Inc. has a 52 week low of $110.97 and a 52 week high of $183.53. The company has a 50-day moving average price of $148.25 and a 200 day moving average price of $144.93.

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

Arch Resources Cuts Dividend

The business also recently declared a None dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be given a dividend of $3.11 per share. The ex-dividend date is Monday, February 27th. This represents a dividend yield of 0.6%. Arch Resources's payout ratio is 1.56%.

Insider Activity

In other news, VP Rosemary L. Klein sold 623 shares of Arch Resources stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $150.00, for a total transaction of $93,450.00. Following the completion of the sale, the vice president now directly owns 7,071 shares in the company, valued at approximately $1,060,650. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Rosemary L. Klein sold 623 shares of Arch Resources stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $150.00, for a total transaction of $93,450.00. Following the completion of the sale, the vice president now directly owns 7,071 shares in the company, valued at approximately $1,060,650. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Rosemary L. Klein sold 1,549 shares of Arch Resources stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $165.00, for a total transaction of $255,585.00. Following the sale, the vice president now owns 7,999 shares of the company's stock, valued at $1,319,835. The disclosure for this sale can be found here. In the last three months, insiders sold 9,337 shares of company stock worth $1,430,173. Company insiders own 8.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARCH. BMO Capital Markets increased their target price on shares of Arch Resources from $185.00 to $200.00 in a research note on Friday, February 17th. B. Riley reduced their price objective on shares of Arch Resources from $207.00 to $204.00 and set a "buy" rating for the company in a research report on Friday, February 17th. Finally, StockNews.com downgraded shares of Arch Resources from a "buy" rating to a "hold" rating in a research report on Thursday, January 19th.

Arch Resources Company 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.