Monarch Alternative Capital Lp Sells 500,000 Shares of Arch Coal Inc. (ARCH) Stock

Arch Coal Inc. (NYSE:ARCH) major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total transaction of $42,630,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Arch Coal Inc. (NYSE ARCH) opened at $85.94 on Thursday. Arch Coal Inc. has a 12-month low of $60.13 and a 12-month high of $88.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.40 and a current ratio of 2.79.

Arch Coal (NYSE:ARCH) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.96. The company had revenue of $613.53 million for the quarter, compared to analyst estimates of $550.35 million. During the same quarter in the previous year, the business posted ($1.43) earnings per share. Arch Coal’s revenue was up 11.5% on a year-over-year basis. research analysts forecast that Arch Coal Inc. will post 9.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.63%.

Several hedge funds have recently bought and sold shares of ARCH. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Arch Coal during the 3rd quarter worth approximately $3,894,000. GeoSphere Capital Management acquired a new position in shares of Arch Coal during the 3rd quarter worth approximately $2,152,000. Cubist Systematic Strategies LLC raised its position in shares of Arch Coal by 352.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,621 shares of the energy company’s stock worth $403,000 after purchasing an additional 4,380 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Arch Coal during the 3rd quarter worth approximately $336,000. Finally, B. Riley Financial Inc. acquired a new position in shares of Arch Coal during the 3rd quarter worth approximately $215,000.

A number of equities research analysts recently commented on ARCH shares. Jefferies Group set a $90.00 price objective on shares of Arch Coal and gave the company a “buy” rating in a research report on Friday, August 18th. MKM Partners restated a “buy” rating and issued a $98.00 price objective (up previously from $93.00) on shares of Arch Coal in a research report on Thursday, August 24th. Stifel Nicolaus set a $92.00 price target on shares of Arch Coal and gave the company a “buy” rating in a research report on Friday, August 25th. J P Morgan Chase & Co upgraded shares of Arch Coal from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $80.00 to $90.00 in a research report on Thursday, August 31st. Finally, Macquarie started coverage on shares of Arch Coal in a research report on Thursday, September 7th. They set a “neutral” rating and a $84.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $93.00.

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About Arch Coal

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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