Cambria Investment Management L.P. Decreases Holdings in Arch Coal Inc (NYSE:ARCH)

Cambria Investment Management L.P. lessened its holdings in shares of Arch Coal Inc (NYSE:ARCH) by 7.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,681 shares of the energy company’s stock after selling 1,343 shares during the quarter. Cambria Investment Management L.P. owned approximately 0.09% of Arch Coal worth $1,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ARCH. LSV Asset Management raised its stake in shares of Arch Coal by 411.6% in the first quarter. LSV Asset Management now owns 484,622 shares of the energy company’s stock worth $44,231,000 after buying an additional 389,902 shares during the period. Anchor Bolt Capital LP purchased a new stake in shares of Arch Coal during the fourth quarter worth about $8,572,000. Millennium Management LLC grew its position in shares of Arch Coal by 47.4% during the fourth quarter. Millennium Management LLC now owns 261,492 shares of the energy company’s stock worth $21,701,000 after purchasing an additional 84,108 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Arch Coal by 18.8% during the first quarter. JPMorgan Chase & Co. now owns 527,555 shares of the energy company’s stock worth $48,151,000 after purchasing an additional 83,590 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Arch Coal during the fourth quarter worth about $6,322,000.

Several analysts recently issued reports on ARCH shares. B. Riley increased their target price on Arch Coal to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 15th. BMO Capital Markets raised their price target on Arch Coal to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised Arch Coal from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Tuesday, April 16th. ValuEngine lowered Arch Coal from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Finally, TheStreet downgraded Arch Coal from a “b” rating to a “c+” rating in a report on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $107.83.

ARCH stock traded up $0.52 on Friday, hitting $88.65. 201,100 shares of the company’s stock were exchanged, compared to its average volume of 248,375. Arch Coal Inc has a 12-month low of $75.09 and a 12-month high of $101.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.80 and a quick ratio of 2.31. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 5.85 and a beta of 0.24.

Arch Coal (NYSE:ARCH) last announced its earnings results on Tuesday, April 23rd. The energy company reported $3.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $1.38. Arch Coal had a return on equity of 47.43% and a net margin of 13.38%. The firm had revenue of $555.18 million for the quarter, compared to the consensus estimate of $572.79 million. During the same period in the previous year, the business earned $2.74 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that Arch Coal Inc will post 18.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.45 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. Arch Coal’s dividend payout ratio (DPR) is presently 11.88%.

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Arch Coal Company Profile

Arch Coal, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2018, the company operated nine active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 1,060 acres of coal land in Maryland; 10,195 acres of coal land in Virginia; 359,122 acres of coal land in West Virginia; 81,868 acres of coal land in Wyoming; 268,802 acres of coal land in Illinois; 33,527 acres of coal land in Kentucky; 9,840 acres of coal land in Montana; 21,802 acres of coal land in New Mexico; 358 acres of coal land in Pennsylvania; and 19,146 acres of coal land in Colorado, as well as owned or controlled through long-term leases smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.

Further Reading: Asset Allocation and Your Retirement

Institutional Ownership by Quarter for Arch Coal (NYSE:ARCH)

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