Northern Trust Corp Buys New Stake in Warrior Met Coal Inc. (HCC)
Northern Trust Corp bought a new position in Warrior Met Coal Inc. (NYSE:HCC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 178,221 shares of the company’s stock, valued at approximately $3,053,000. Northern Trust Corp owned 0.33% of Warrior Met Coal at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. purchased a new stake in shares of Warrior Met Coal in the second quarter worth about $131,000. New York State Common Retirement Fund bought a new position in Warrior Met Coal in the 2nd quarter worth approximately $310,000. Rhumbline Advisers bought a new position in Warrior Met Coal in the 2nd quarter worth approximately $343,000. Teachers Advisors LLC bought a new position in Warrior Met Coal in the 2nd quarter worth approximately $509,000. Finally, HITE Hedge Asset Management LLC bought a new position in Warrior Met Coal in the 2nd quarter worth approximately $514,000. 98.38% of the stock is owned by institutional investors.
Shares of Warrior Met Coal Inc. (NYSE HCC) opened at $20.54 on Friday. Warrior Met Coal Inc. has a 1-year low of $15.10 and a 1-year high of $30.49.
Warrior Met Coal (NYSE:HCC) last released its earnings results on Thursday, November 9th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.01. The company had revenue of $312.00 million during the quarter, compared to analyst estimates of $301.89 million. Warrior Met Coal had a return on equity of 51.58% and a net margin of 36.20%. The company’s revenue was up 489.8% compared to the same quarter last year. research analysts forecast that Warrior Met Coal Inc. will post 7.85 EPS for the current fiscal year.
The firm also recently announced a special dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th were issued a $11.21 dividend. The ex-dividend date of this dividend was Friday, November 24th. This represents a dividend yield of 0.75%. This is a positive change from Warrior Met Coal’s previous special dividend of $0.05.
In other news, Director Stephen D. Williams sold 18,742 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $28.00, for a total value of $524,776.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $560,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on HCC. Zacks Investment Research raised Warrior Met Coal from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, November 17th. B. Riley reissued a “hold” rating and set a $26.00 price objective on shares of Warrior Met Coal in a research note on Friday, November 10th. ValuEngine lowered Warrior Met Coal from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Seaport Global Securities lowered Warrior Met Coal from a “buy” rating to a “neutral” rating in a report on Wednesday, October 18th. Finally, FBR & Co set a $26.00 target price on Warrior Met Coal and gave the company a “hold” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.92.
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Warrior Met Coal Profile
Warrior Met Coal, Inc, formerly Warrior Met Coal, LLC, is a producer and exporter of metallurgical coal for the steel industry from underground mines located in Brookwood, Alabama, southwest of Birmingham and near Tuscaloosa. These underground coalmines are 1,400 to 2,100 feet underground. Its operations serve markets in the United States, Europe, Asia and South America via barge and rail access to the Port of Mobile.
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