Bank of America Corp DE Purchases New Shares in Warrior Met Coal $HCC

Key Points

• Bank of America acquired 204,362 shares of Warrior Met Coal worth approximately $16.6 million, giving it a 0.39% stake. Institutional investors and hedge funds collectively own 92.28% of the company.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $103.83. Royal Bank of Canada raised its target to $110, while ratings ranged from Buy to Hold.
• Warrior Met Coal reported quarterly earnings of $1.65 per share, beating estimates of $1.40, as revenue rose 71.3% year over year to $509.69 million. However, company insiders sold 104,800 shares worth about $11.25 million over the past 90 days.

Bank of America Corp DE acquired a new position in shares of Warrior Met Coal (NYSE:HCC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 204,362 shares of the company's stock, valued at approximately $16,586,000. Bank of America Corp DE owned approximately 0.39% of Warrior Met Coal at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in Warrior Met Coal during the 2nd quarter worth about $31,000. IFP Advisors Inc purchased a new stake in shares of Warrior Met Coal in the fourth quarter valued at $37,000. Meeder Asset Management Inc. purchased a new stake in shares of Warrior Met Coal in the second quarter valued at $37,000. Allworth Financial LP acquired a new position in Warrior Met Coal in the second quarter valued at $39,000. Finally, Global Retirement Partners LLC increased its stake in Warrior Met Coal by 3,281.8% in the fourth quarter. Global Retirement Partners LLC now owns 744 shares of the company's stock valued at $66,000 after purchasing an additional 722 shares during the last quarter. 92.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HCC shares. Zacks Research downgraded Warrior Met Coal from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Weiss Ratings raised shares of 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 upped their price objective on shares of Warrior Met Coal from $90.00 to $110.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 16th. Citigroup reiterated a "buy" rating on shares of Warrior Met Coal in a report on Wednesday, June 10th. Finally, Wall Street Zen raised shares of Warrior Met Coal from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.83.

Warrior Met Coal Price Performance

HCC stock opened at $88.97 on Friday. The stock has a 50-day moving average price of $93.99 and a two-hundred day moving average price of $90.72. Warrior Met Coal has a 12-month low of $61.87 and a 12-month high of $111.42. The company has a current ratio of 3.93, a quick ratio of 2.79 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.70 billion, a PE ratio of 21.39 and a beta of 0.67.

Warrior Met Coal (NYSE:HCC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.25. Warrior Met Coal had a return on equity of 10.02% and a net margin of 13.05%.The business had revenue of $509.69 million for the quarter, compared to analyst estimates of $488.46 million. During the same period in the previous year, the company posted $0.11 EPS. The company's revenue was up 71.3% compared to the same quarter last year. As a group, research analysts predict that Warrior Met Coal will post 5.74 EPS for the current year.

Warrior Met Coal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, August 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Warrior Met Coal's payout ratio is presently 7.69%.

Insiders Place Their Bets

In related news, Director Stephen Williams sold 4,800 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $104.23, for a total value of $500,304.00. Following the completion of the sale, the director directly owned 30,303 shares in the company, valued at approximately $3,158,481.69. This represents a 13.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Walter J. Scheller sold 50,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $110.00, for a total value of $5,500,000.00. Following the transaction, the chief executive officer owned 267,793 shares in the company, valued at approximately $29,457,230. This represents a 15.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 104,800 shares of company stock valued at $11,250,304. 2.10% of the stock is owned by corporate insiders.

About Warrior Met Coal

Warrior Met Coal, Inc is a mining company that produces and exports metallurgical coal used primarily in steelmaking. The company operates underground mines and related processing facilities in Alabama's Blue Creek coal seam, producing high-quality, low-volatility metallurgical coal for use in blast-furnace steel production.

The company sells its products to steel producers and coke manufacturers in international markets, serving customers across regions that include Europe, Asia and South America.

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