Bank of America Corp DE Has $792,000 Stake in Arch Coal, Inc. Class A (ARCH)

Bank of America Corp DE raised its position in Arch Coal, Inc. Class A (NASDAQ:ARCH) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 11,478 shares of the energy company’s stock after buying an additional 370 shares during the period. Bank of America Corp DE’s holdings in Arch Coal, Inc. Class A were worth $792,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ARCH. Oppenheimer Asset Management Inc. acquired a new position in shares of Arch Coal, Inc. Class A during the first quarter worth approximately $219,000. Banco BTG Pactual S.A. acquired a new position in shares of Arch Coal, Inc. Class A during the first quarter worth approximately $276,000. Parkwood LLC boosted its position in shares of Arch Coal, Inc. Class A by 66.5% in the first quarter. Parkwood LLC now owns 4,320 shares of the energy company’s stock worth $298,000 after buying an additional 1,726 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Arch Coal, Inc. Class A during the first quarter worth approximately $579,000. Finally, SG Americas Securities LLC acquired a new position in shares of Arch Coal, Inc. Class A during the first quarter worth approximately $1,316,000.

Arch Coal, Inc. Class A (ARCH) traded down 0.44% during trading on Wednesday, hitting $76.30. 129,863 shares of the company’s stock were exchanged. The company has a market cap of $1.85 billion and a price-to-earnings ratio of 1.06. Arch Coal, Inc. Class A has a 52-week low of $59.05 and a 52-week high of $86.47. The firm has a 50 day moving average price of $74.33 and a 200 day moving average price of $71.09.

Arch Coal, Inc. Class A (NASDAQ:ARCH) last posted its earnings results on Thursday, July 27th. The energy company reported $1.85 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by $0.07. The business had revenue of $549.87 million for the quarter, compared to the consensus estimate of $596.76 million. The business’s revenue was up 30.8% on a year-over-year basis. On average, equities research analysts predict that Arch Coal, Inc. Class A will post $9.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.83%. This is a boost from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.03.

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A number of brokerages recently commented on ARCH. Stifel Nicolaus decreased their target price on shares of Arch Coal, Inc. Class A from $96.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, May 19th. Seaport Global Securities reiterated a “buy” rating on shares of Arch Coal, Inc. Class A in a research report on Thursday, July 27th. Jefferies Group LLC set a $90.00 target price on shares of Arch Coal, Inc. Class A and gave the stock a “buy” rating in a research report on Friday, August 18th. FBR & Co lifted their target price on shares of Arch Coal, Inc. Class A from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, MKM Partners reiterated a “buy” rating and issued a $89.00 target price (up previously from $86.00) on shares of Arch Coal, Inc. Class A in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $91.67.

About Arch Coal, Inc. Class A

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.

Institutional Ownership by Quarter for Arch Coal, Inc. Class A (NASDAQ:ARCH)

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