Van ECK Associates Corp Purchases 4,869 Shares of Warrior Met Coal $HCC

Van ECK Associates Corp raised its position in shares of Warrior Met Coal (NYSE:HCC) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,013 shares of the company’s stock after purchasing an additional 4,869 shares during the quarter. Van ECK Associates Corp owned 0.10% of Warrior Met Coal worth $4,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HCC. Empowered Funds LLC purchased a new position in shares of Warrior Met Coal during the 2nd quarter valued at $2,293,000. Lifetime Wealth Management P.C. purchased a new stake in Warrior Met Coal in the 2nd quarter worth $3,172,000. Jefferies Financial Group Inc. purchased a new stake in Warrior Met Coal in the 2nd quarter worth $3,209,000. Public Employees Retirement System of Ohio bought a new stake in Warrior Met Coal during the second quarter valued at about $99,000. Finally, Bank of America Corp DE bought a new stake in Warrior Met Coal during the second quarter valued at about $16,586,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Walter Scheller sold 50,000 shares of the 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 sale, the chief executive officer directly owned 267,793 shares in the company, valued at approximately $29,457,230. This represents a 15.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen D. Williams sold 4,800 shares of the firm’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 directly owned 30,303 shares of the company’s stock, valued at $3,158,481.69. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 104,800 shares of company stock valued at $11,250,304. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HCC. Citigroup reiterated a “buy” rating on shares of Warrior Met Coal in a research report on Wednesday, June 10th. Weiss Ratings upgraded Warrior Met Coal from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. B. Riley Financial increased their price objective on shares of Warrior Met Coal from $117.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Zacks Research cut shares of Warrior Met Coal from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, UBS Group lowered their target price on shares of Warrior Met Coal from $100.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.60.

Warrior Met Coal Stock Performance

Shares of NYSE:HCC opened at $103.00 on Friday. Warrior Met Coal has a 52 week low of $55.08 and a 52 week high of $111.42. The stock has a market capitalization of $5.44 billion, a P/E ratio of 24.76 and a beta of 0.67. The firm has a fifty day simple moving average of $89.36 and a two-hundred day simple moving average of $89.50. 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 released its earnings results on Wednesday, August 5th. The company reported $1.65 earnings per share (EPS) 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 firm had revenue of $509.69 million during the quarter, compared to analyst estimates of $488.46 million. During the same quarter last year, the business earned $0.11 EPS. The business’s revenue was up 71.3% on a year-over-year basis. On average, analysts expect that Warrior Met Coal will post 5.74 earnings per share for the current fiscal year.

Warrior Met Coal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Warrior Met Coal’s dividend payout ratio is 7.69%.

About Warrior Met Coal

Warrior Met Coal (NYSE: HCC) is a leading producer of premium metallurgical coal, operating deep underground mining complexes in Central Alabama’s Blue Creek and Brookwood mining districts. The company focuses exclusively on the extraction and sale of high-grade hard coking coal, a critical raw material used in steel production. Its mining operations harness longwall mining technology and rigorous safety protocols to deliver consistent coal quality to customers worldwide.

Warrior Met Coal’s product portfolio centers on premium hard coking coal, semisoft coking coal, and pulverized coal injection (PCI) products.