Bank of New York Mellon Corp raised its position in ARC Document Solutions Inc. (NYSE:ARC) by 34.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 482,285 shares of the company’s stock after buying an additional 123,880 shares during the period. Bank of New York Mellon Corp owned 1.02% of ARC Document Solutions worth $1,876,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Strs Ohio raised its stake in ARC Document Solutions by 176.5% in the second quarter. Strs Ohio now owns 151,500 shares of the company’s stock worth $589,000 after buying an additional 96,700 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in shares of ARC Document Solutions during the second quarter valued at approximately $357,000. First Quadrant L P CA raised its stake in shares of ARC Document Solutions by 127.3% in the second quarter. First Quadrant L P CA now owns 32,500 shares of the company’s stock valued at $126,000 after buying an additional 18,200 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of ARC Document Solutions by 82.1% in the second quarter. Acadian Asset Management LLC now owns 284,814 shares of the company’s stock valued at $1,108,000 after buying an additional 128,435 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of ARC Document Solutions by 1.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 1,028,377 shares of the company’s stock valued at $4,000,000 after buying an additional 14,548 shares during the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.
ARC Document Solutions Inc. (NYSE:ARC) traded down 0.56% during trading on Friday, reaching $3.58. The company had a trading volume of 37,938 shares. The firm has a market capitalization of $164.71 million, a P/E ratio of 5.60 and a beta of 2.16. The stock has a 50 day moving average price of $3.49 and a 200 day moving average price of $3.86. ARC Document Solutions Inc. has a 52 week low of $3.06 and a 52 week high of $6.77.
ARC Document Solutions (NYSE:ARC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company earned $103.80 million during the quarter, compared to analyst estimates of $109.31 million. ARC Document Solutions had a return on equity of 7.66% and a net margin of 7.18%. ARC Document Solutions’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Analysts predict that ARC Document Solutions Inc. will post $0.25 earnings per share for the current year.
Several analysts recently commented on ARC shares. Zacks Investment Research lowered ARC Document Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. B. Riley reaffirmed a “buy” rating and issued a $5.00 price objective on shares of ARC Document Solutions in a report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. ARC Document Solutions presently has a consensus rating of “Hold” and an average price target of $7.70.
ARC Document Solutions Company Profile
ARC Document Solutions, Inc (ARC) is a document solutions provider for the architectural, engineering and construction (AEC) industry. The Company also provides document solutions to businesses of various types. ARC’s offerings include managed print services (MPS), offsite services, archive and information management (AIM), specialized color printing, Web-based document management applications, digital shipping/managed file transfer, and equipment and supplies sales.