Russell Investments Group Ltd. raised its stake in shares of Arch Coal Inc. (NYSE:ARCH) by 281.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 138,956 shares of the energy company’s stock after purchasing an additional 102,544 shares during the period. Russell Investments Group Ltd. owned approximately 0.63% of Arch Coal worth $9,969,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Lingohr & Partner Asset Management GmbH purchased a new position in Arch Coal in the third quarter worth $811,000. Sei Investments Co. acquired a new stake in shares of Arch Coal in the third quarter valued at about $22,916,000. Fiduciary Trust Co. raised its position in shares of Arch Coal by 26.0% in the third quarter. Fiduciary Trust Co. now owns 3,996 shares of the energy company’s stock valued at $287,000 after buying an additional 825 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Arch Coal in the third quarter valued at about $2,334,000. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Arch Coal by 21.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 7,897 shares of the energy company’s stock valued at $567,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 37.04% of the company’s stock.
Shares of Arch Coal Inc. (NYSE ARCH) traded up $0.06 on Tuesday, hitting $84.32. 243,100 shares of the company were exchanged, compared to its average volume of 431,042. The company has a quick ratio of 2.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.46. Arch Coal Inc. has a 12-month low of $60.13 and a 12-month high of $86.35.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, November 29th.
A number of equities research analysts have recently commented on ARCH shares. Jefferies Group set a $90.00 target price on shares of Arch Coal and gave the company a “buy” rating in a research report on Friday, August 18th. MKM Partners reissued a “buy” rating and issued a $98.00 price objective (up previously from $93.00) on shares of Arch Coal in a report on Thursday, August 24th. Stifel Nicolaus set a $92.00 price objective on shares of Arch Coal and gave the company a “buy” rating in a report on Friday, August 25th. J P Morgan Chase & Co raised shares of Arch Coal from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $90.00 in a report on Thursday, August 31st. Finally, Macquarie assumed coverage on shares of Arch Coal in a report on Thursday, September 7th. They issued a “neutral” rating and a $84.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Arch Coal presently has a consensus rating of “Buy” and a consensus price target of $93.00.
In other Arch Coal news, Director James N. Chapman sold 1,002 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $80.99, for a total transaction of $81,151.98. Following the completion of the transaction, the director now owns 2,226 shares of the company’s stock, valued at $180,283.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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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