Adage Capital Partners GP L.L.C. Has $39.13 Million Stock Holdings in Warrior Met Coal $HCC

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Warrior Met Coal by 412.5%, acquiring an additional 660,000 shares, bringing its total ownership to 1.56% of the company.
• Warrior Met Coal recently declared a quarterly dividend of $0.08 per share, representing an annualized yield of 0.6%, with a payout ratio of 41.56%.
• Analysts have set an average price target of $63.50 for Warrior Met Coal, with ratings ranging from Buy to Hold among market watchers.

Adage Capital Partners GP L.L.C. lifted its holdings in Warrior Met Coal (NYSE:HCC - Free Report) by 412.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 820,000 shares of the company's stock after purchasing an additional 660,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 1.56% of Warrior Met Coal worth $39,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings 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 bought a new position in Warrior Met Coal in the first quarter worth about $334,000. D. E. Shaw & Co. Inc. raised its holdings in Warrior Met Coal by 14.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 58,877 shares of the company's stock worth $3,193,000 after purchasing an additional 7,426 shares in the last quarter. Kennondale Capital Management LLC increased its holdings in shares of Warrior Met Coal by 39.1% during the first quarter. Kennondale Capital Management LLC now owns 38,586 shares of the company's stock valued at $1,841,000 after acquiring an additional 10,839 shares in the last quarter. Finally, Skylands Capital LLC acquired a new position in shares of Warrior Met Coal during the first quarter valued at about $1,312,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

Warrior Met Coal Price Performance

Shares of NYSE:HCC traded down $2.70 on Monday, hitting $58.01. The company had a trading volume of 733,541 shares, compared to its average volume of 985,980. 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 has a 52-week low of $38.00 and a 52-week high of $75.15. The business has a 50 day moving average of $55.34 and a 200 day moving average of $49.93. The company has a market cap of $3.05 billion, a PE ratio of 75.33 and a beta of 0.74.

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

Warrior Met Coal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. Warrior Met Coal's dividend payout ratio (DPR) is presently 41.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group upped their target price on Warrior Met Coal from $50.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Wall Street Zen raised Warrior Met Coal from a "sell" rating to a "hold" rating in a research report on Friday. BMO Capital Markets set a $55.00 target price on Warrior Met Coal and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, B. Riley decreased their price objective on Warrior Met Coal from $76.00 to $74.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $63.50.

Warrior Met Coal Profile

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.