Warrior Met Coal (NYSE:HCC) major shareholder Apollo Management Holdings Gp, sold 3,192,328 shares of Warrior Met Coal stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $24.20, for a total value of $77,254,337.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
NYSE:HCC opened at $27.19 on Thursday. The stock has a market cap of $1.41 billion and a PE ratio of 3.45. The company has a current ratio of 4.79, a quick ratio of 4.36 and a debt-to-equity ratio of 0.80. Warrior Met Coal has a 1-year low of $27.09 and a 1-year high of $27.48.
Warrior Met Coal (NYSE:HCC) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $3.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.08 by $0.34. The company had revenue of $421.80 million for the quarter, compared to analysts’ expectations of $396.35 million. Warrior Met Coal had a return on equity of 73.24% and a net margin of 39.30%. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 earnings per share. sell-side analysts anticipate that Warrior Met Coal will post 7.36 earnings per share for the current year.
Warrior Met Coal announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 2nd that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Friday, May 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 3rd. Warrior Met Coal’s dividend payout ratio (DPR) is currently 2.53%.
Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Warrior Met Coal by 488.1% in the fourth quarter. Bank of New York Mellon Corp now owns 375,758 shares of the company’s stock valued at $9,450,000 after acquiring an additional 311,868 shares during the last quarter. Delek Group Ltd. bought a new stake in Warrior Met Coal in the fourth quarter valued at approximately $126,000. The Manufacturers Life Insurance Company boosted its holdings in Warrior Met Coal by 83.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,374 shares of the company’s stock valued at $639,000 after acquiring an additional 11,569 shares during the last quarter. Two Sigma Investments LP bought a new stake in Warrior Met Coal in the fourth quarter valued at approximately $14,857,000. Finally, Spark Investment Management LLC boosted its holdings in Warrior Met Coal by 16.0% in the fourth quarter. Spark Investment Management LLC now owns 39,200 shares of the company’s stock valued at $985,000 after acquiring an additional 5,400 shares during the last quarter.
HCC has been the topic of a number of recent analyst reports. B. Riley reiterated a “hold” rating and issued a $28.00 target price on shares of Warrior Met Coal in a research report on Wednesday, January 17th. Macquarie upgraded Warrior Met Coal from an “underperform” rating to a “hold” rating in a report on Tuesday, January 23rd. Credit Suisse Group boosted their price target on Warrior Met Coal from $18.75 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded Warrior Met Coal from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Monday, February 12th. Finally, BMO Capital Markets boosted their price target on Warrior Met Coal to $39.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Warrior Met Coal has an average rating of “Hold” and an average target price of $28.30.
Warrior Met Coal Company Profile
Warrior Met Coal, Inc produces and exports metallurgical coal for the steel industry. It operates two underground mines located in Alabama. The company sells its metallurgical coal to a customer base of blast furnace steel producers located primarily in Europe, South America, and Asia. It also sells natural gas, which is extracted as a byproduct from coal production.
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