Warrior Met Coal $HCC Stake Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Warrior Met Coal (NYSE:HCC) by 37.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,930 shares of the company’s stock after selling 6,459 shares during the period. State of Alaska Department of Revenue’s holdings in Warrior Met Coal were worth $962,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Warrior Met Coal during the 2nd quarter worth $606,503,000. Renaissance Technologies LLC lifted its position in Warrior Met Coal by 22.6% in the first quarter. Renaissance Technologies LLC now owns 810,781 shares of the company’s stock valued at $75,524,000 after acquiring an additional 149,600 shares during the last quarter. Goehring & Rozencwajg Associates LLC purchased a new stake in Warrior Met Coal in the first quarter valued at $55,714,000. Bank of New York Mellon Corp purchased a new stake in Warrior Met Coal in the second quarter valued at $31,201,000. Finally, O Keefe Stevens Advisory Inc. boosted its stake in Warrior Met Coal by 1.0% in the third quarter. O Keefe Stevens Advisory Inc. now owns 293,482 shares of the company’s stock valued at $25,847,000 after acquiring an additional 2,913 shares in the last quarter. 92.28% of the stock is owned by hedge funds and other institutional investors.

Warrior Met Coal Stock Up 0.2%

Shares of NYSE HCC opened at $84.29 on Thursday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 20.26 and a beta of 0.72. Warrior Met Coal has a 52 week low of $61.87 and a 52 week high of $111.42. The firm has a 50-day moving average price of $96.09 and a 200 day moving average price of $90.75. The company has a quick ratio of 2.79, a current ratio of 3.93 and a debt-to-equity ratio of 0.10.

Warrior Met Coal (NYSE:HCC) last issued its earnings results on Wednesday, August 5th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.25. Warrior Met Coal had a net margin of 13.05% and a return on equity of 10.02%. The company had revenue of $509.69 million for the quarter, compared to analyst estimates of $488.46 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 71.3% compared to the same quarter last year. Equities research analysts anticipate that Warrior Met Coal will post 6.71 EPS for the current fiscal year.

Warrior Met Coal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Warrior Met Coal’s payout ratio is 7.69%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Warrior Met Coal from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. UBS Group lifted their price target on Warrior Met Coal from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Warrior Met Coal from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Zacks Research downgraded Warrior Met Coal from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada increased their price objective on Warrior Met Coal from $90.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Warrior Met Coal currently has an average rating of “Moderate Buy” and a consensus target price of $104.50.

Insider Activity at Warrior Met Coal

In related news, Director Stephen Williams sold 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $104.23, for a total value of $500,304.00. Following the sale, the director owned 30,303 shares in the company, valued at $3,158,481.69. This represents a 13.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Walter J. Scheller sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $110.00, for a total value of $5,500,000.00. Following the completion of the sale, the chief executive officer owned 267,793 shares in the company, valued at approximately $29,457,230. This represents a 15.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,800 shares of company stock worth $11,250,304 in the last three months. Corporate insiders own 2.10% of the company’s stock.

About Warrior Met Coal

Warrior Met Coal, Inc is a mining company focused on the production and export of high-quality metallurgical coal, also known as met coal. Its products are used primarily by steelmakers in the blast-furnace steelmaking process, where metallurgical coal is converted into coke to support the production of iron and steel.

The company operates underground coal mines and related processing facilities in the Brookwood coal-producing region of Alabama. Warrior Met Coal primarily produces premium hard coking coal and sells its products to customers in international steel markets, serving regions that include Europe, Asia, and the Americas.

Warrior Met Coal was formed from the assets of Walter Energy after Walter Energy’s bankruptcy and began operating as an independent public company in 2016.