Legal & General Group Plc Invests $9.68 Million in Warrior Met Coal $HCC

Key Points

• Legal & General Group purchased 119,225 shares of Warrior Met Coal worth approximately $9.68 million, while institutional investors collectively own 92.28% of the company.
• Insiders sold 104,800 shares valued at $11.25 million over the past three months, including 50,000 shares sold by CEO Walter J. Scheller.
• Warrior Met Coal exceeded quarterly expectations with EPS of $1.65 versus the $1.40 estimate and revenue growth of 71.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $102.60.

Legal & General Group Plc purchased a new stake in Warrior Met Coal (NYSE:HCC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 119,225 shares of the company's stock, valued at approximately $9,676,000. Legal & General Group Plc owned approximately 0.23% of Warrior Met Coal at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Maryland State Retirement & Pension System boosted its stake in Warrior Met Coal by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,678 shares of the company's stock worth $677,000 after buying an additional 121 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Warrior Met Coal by 1.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,027 shares of the company's stock worth $1,060,000 after acquiring an additional 149 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Warrior Met Coal by 1.5% in the 1st quarter. Kestra Advisory Services LLC now owns 11,440 shares of the company's stock worth $1,066,000 after acquiring an additional 172 shares during the last quarter. BTC Capital Management Inc. increased its stake in shares of Warrior Met Coal by 3.0% in the 1st quarter. BTC Capital Management Inc. now owns 7,824 shares of the company's stock worth $729,000 after acquiring an additional 225 shares during the last quarter. Finally, Gotham Asset Management LLC raised its holdings in shares of Warrior Met Coal by 1.7% during the 4th quarter. Gotham Asset Management LLC now owns 13,213 shares of the company's stock worth $1,165,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 92.28% of the company's stock.

Insider Buying and Selling

In other news, CEO Walter J. Scheller sold 50,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $110.00, for a total value of $5,500,000.00. Following the transaction, the chief executive officer directly owned 267,793 shares in the company, valued at approximately $29,457,230. This represents a 15.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen D. Williams sold 4,800 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $104.23, for a total transaction of $500,304.00. Following the completion of the transaction, the director owned 30,303 shares in the company, valued at approximately $3,158,481.69. This represents a 13.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 104,800 shares of company stock worth $11,250,304 over the last three months. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

HCC has been the subject of a number of analyst reports. UBS Group dropped their price objective on shares of Warrior Met Coal from $100.00 to $98.00 and set a "buy" rating for the company in a report on Thursday, August 6th. 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. Citigroup reiterated a "buy" rating on shares of Warrior Met Coal in a report on Wednesday, June 10th. B. Riley Financial increased their price target on shares of Warrior Met Coal from $117.00 to $123.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Warrior Met Coal from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Warrior Met Coal presently has a consensus rating of "Moderate Buy" and an average price target of $102.60.

Warrior Met Coal Stock Performance

NYSE HCC opened at $106.10 on Wednesday. The stock has a fifty day simple moving average of $88.50 and a 200-day simple moving average of $89.22. 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 stock has a market cap of $5.60 billion, a PE ratio of 25.50 and a beta of 0.65. Warrior Met Coal has a twelve month low of $54.66 and a twelve month high of $111.20.

Warrior Met Coal (NYSE:HCC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.25. Warrior Met Coal had a net margin of 13.05% and a return on equity of 10.02%. The firm 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 firm earned $0.11 EPS. Warrior Met Coal's revenue was up 71.3% on a year-over-year basis. Equities analysts anticipate that Warrior Met Coal will post 5.74 earnings per share for the current year.

Warrior Met Coal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Warrior Met Coal's payout ratio is 7.69%.

Warrior Met Coal Company Profile

Warrior Met Coal NYSE: HCC is a leading producer of premium metallurgical coal, operating deep underground mining complexes in Central Alabama's Blue Creek and Brookwood mining districts. The company focuses exclusively on the extraction and sale of high-grade hard coking coal, a critical raw material used in steel production. Its mining operations harness longwall mining technology and rigorous safety protocols to deliver consistent coal quality to customers worldwide.

Warrior Met Coal's product portfolio centers on premium hard coking coal, semisoft coking coal, and pulverized coal injection (PCI) products.

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