SummerHaven Investment Management LLC Makes New Investment in Warrior Met Coal $HCC

SummerHaven Investment Management LLC acquired a new stake in Warrior Met Coal (NYSE:HCC) during the third quarter, Holdings Channel reports. The institutional investor acquired 11,078 shares of the company’s stock, valued at approximately $976,000.

A number of other hedge funds have also modified their holdings of HCC. Systrade AG purchased a new position in shares of Warrior Met Coal during the third quarter worth $1,747,000. O Keefe Stevens Advisory Inc. boosted its holdings 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 purchasing an additional 2,913 shares during the last quarter. Hardin Capital Partners LLC boosted its holdings in Warrior Met Coal by 11.6% in the third quarter. Hardin Capital Partners LLC now owns 2,893 shares of the company’s stock valued at $255,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Warrior Met Coal by 9.2% in the third quarter. GAMMA Investing LLC now owns 2,795 shares of the company’s stock valued at $246,000 after purchasing an additional 235 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Warrior Met Coal by 11.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $220,000 after purchasing an additional 272 shares during the period. 92.28% of the stock is owned by institutional investors and hedge funds.

Warrior Met Coal Stock Performance

HCC opened at $89.72 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.93 and a quick ratio of 2.79. The firm has a fifty day moving average price of $96.83 and a 200 day moving average price of $90.96. Warrior Met Coal has a 1 year low of $61.87 and a 1 year high of $111.42. The stock has a market cap of $4.74 billion, a P/E ratio of 21.57 and a beta of 0.72.

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

Warrior Met Coal Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Transactions at Warrior Met Coal

In other news, Director Stephen D. Williams sold 4,800 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $104.23, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Walter Scheller sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $105.00, for a total value of $5,250,000.00. Following the sale, the chief executive officer owned 317,793 shares in the company, valued at $33,368,265. This trade represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 104,800 shares of company stock valued at $11,250,304. Insiders own 2.10% of the company’s stock.

Warrior Met Coal Company Profile

Warrior Met Coal, Inc (NYSE: HCC) is a U.S.-based producer and exporter of metallurgical coal, also known as coking coal. Its products are used primarily by global steelmakers in blast-furnace steel production, where metallurgical coal is converted into coke to support the conversion of iron ore into steel.

The company operates underground coal mines and related processing and transportation facilities in the Brookwood coal mine area of central Alabama. Warrior Met Coal’s product portfolio is focused on premium high-volatility metallurgical coal, which it sells to customers in domestic and international steel markets.