L1 Capital Pty Ltd Buys Shares of 718,309 Warrior Met Coal $HCC

Key Points

• L1 Capital Pty Ltd acquired 718,309 shares of Warrior Met Coal, valued at approximately $34.3 million, making it 10th largest holding in their portfolio.
• Warrior Met Coal reported earnings of $0.11 per share for the last quarter, exceeding analysts' expectations by $0.39, despite a 25% revenue decline year-over-year.
• The company recently announced a quarterly dividend of $0.08 per share, translating to a 0.5% yield, reflecting a payout ratio of 41.56%.

L1 Capital Pty Ltd bought a new position in shares of Warrior Met Coal (NYSE:HCC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 718,309 shares of the company's stock, valued at approximately $34,278,000. Warrior Met Coal accounts for about 3.2% of L1 Capital Pty Ltd's holdings, making the stock its 10th biggest holding. L1 Capital Pty Ltd owned 1.37% of Warrior Met Coal as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Warrior Met Coal by 3.4% during the first quarter. Principal Financial Group Inc. now owns 322,545 shares of the company's stock worth $15,392,000 after buying an additional 10,608 shares during the period. CWA Asset Management Group LLC purchased a new position in Warrior Met Coal during the first quarter worth about $334,000. D. E. Shaw & Co. Inc. boosted its stake in Warrior Met Coal by 14.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 58,877 shares of the company's stock worth $3,193,000 after buying an additional 7,426 shares during the period. Kennondale Capital Management LLC boosted its stake in Warrior Met Coal by 39.1% during the first quarter. Kennondale Capital Management LLC now owns 38,586 shares of the company's stock worth $1,841,000 after buying an additional 10,839 shares during the period. Finally, Skylands Capital LLC purchased a new position in Warrior Met Coal during the first quarter worth about $1,312,000. Hedge funds and other institutional investors own 92.28% of the company's stock.

Warrior Met Coal Stock Up 9.9%

NYSE:HCC traded up $5.47 during mid-day trading on Friday, hitting $60.62. The stock had a trading volume of 995,465 shares, compared to its average volume of 798,785. The stock has a 50-day simple moving average of $55.34 and a two-hundred day simple moving average of $49.91. The company has a market capitalization of $3.19 billion, a PE ratio of 78.73 and a beta of 0.74. Warrior Met Coal has a twelve month low of $38.00 and a twelve month high of $75.15. The company has a current ratio of 4.59, a quick ratio of 3.44 and a debt-to-equity ratio of 0.12.

Warrior Met Coal (NYSE:HCC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.28) by $0.39. The company had revenue of $297.52 million for the quarter, compared to analyst estimates of $285.63 million. Warrior Met Coal had a net margin of 3.30% and a return on equity of 2.26%. The firm's revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 earnings per share. On average, equities research analysts anticipate that Warrior Met Coal will post 4.86 EPS for the current year.

Warrior Met Coal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Warrior Met Coal's dividend payout ratio (DPR) is 41.56%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HCC. BMO Capital Markets set a $55.00 target price on shares of Warrior Met Coal and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Warrior Met Coal from a "sell" rating to a "hold" rating in a research report on Friday. UBS Group increased their price target on shares of Warrior Met Coal from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, B. Riley reduced their price target on shares of Warrior Met Coal from $76.00 to $74.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Warrior Met Coal presently has an average rating of "Hold" and a consensus target price of $63.50.

About Warrior Met Coal

Warrior Met Coal, Inc produces and exports non-thermal 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.