Bank of New York Mellon Corp Sells 4,030 Shares of ARC Document Solutions, Inc. (NYSE:ARC)

Bank of New York Mellon Corp lowered its stake in ARC Document Solutions, Inc. (NYSE:ARC) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 356,075 shares of the business services provider’s stock after selling 4,030 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of ARC Document Solutions worth $940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in ARC Document Solutions in the 4th quarter worth $82,000. Heron Bay Capital Management boosted its position in shares of ARC Document Solutions by 29.6% during the first quarter. Heron Bay Capital Management now owns 60,601 shares of the business services provider’s stock worth $168,000 after buying an additional 13,837 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in shares of ARC Document Solutions by 80.7% during the second quarter. Redhawk Wealth Advisors Inc. now owns 72,752 shares of the business services provider’s stock worth $192,000 after buying an additional 32,487 shares in the last quarter. First Eagle Investment Management LLC raised its position in ARC Document Solutions by 28.0% in the 1st quarter. First Eagle Investment Management LLC now owns 134,965 shares of the business services provider’s stock valued at $374,000 after buying an additional 29,500 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in ARC Document Solutions by 8.2% in the 1st quarter. Empowered Funds LLC now owns 224,634 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 16,975 shares in the last quarter. Institutional investors and hedge funds own 48.93% of the company’s stock.

ARC Document Solutions Stock Performance

ARC opened at $3.38 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.54. The business’s 50-day simple moving average is $3.14 and its 200 day simple moving average is $2.86. The firm has a market capitalization of $145.95 million, a PE ratio of 16.90, a PEG ratio of 1.19 and a beta of 1.13. ARC Document Solutions, Inc. has a 52-week low of $2.56 and a 52-week high of $3.41.

ARC Document Solutions (NYSE:ARC) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. ARC Document Solutions had a return on equity of 7.29% and a net margin of 2.76%. The company had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $72.60 million. As a group, sell-side analysts expect that ARC Document Solutions, Inc. will post 0.23 earnings per share for the current fiscal year.

ARC Document Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, October 31st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date is Thursday, October 31st. ARC Document Solutions’s dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARC. StockNews.com started coverage on shares of ARC Document Solutions in a research note on Sunday, September 15th. They set a “strong-buy” rating for the company. Singular Research upgraded shares of ARC Document Solutions to a “strong-buy” rating in a research note on Wednesday, August 21st.

ARC Document Solutions Profile

ARC Document Solutions, Inc, a digital printing company, provides digital printing and document-related services in the United States. It provides managed print services, that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and cloud-based document management software and other digital hosting services.