Comerica Bank Sells 44,092 Shares of Ramaco Resources, Inc. $METCB

Key Points

• Comerica Bank significantly reduced its stake in Ramaco Resources, Inc. by 60.2%, now holding 29,105 shares worth $207,000 after selling 44,092 shares in the first quarter.
• Ramaco Resources announced an increase in its quarterly dividend to $0.1918 per share, set to be paid on September 19th, reflecting a 4.8% yield.
• The company's recent quarterly earnings report showed a loss of ($0.29) EPS despite generating a revenue of $152.96 million.

Comerica Bank reduced its stake in shares of Ramaco Resources, Inc. (NASDAQ:METCB - Free Report) by 60.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,105 shares of the company's stock after selling 44,092 shares during the quarter. Comerica Bank owned about 0.05% of Ramaco Resources worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in METCB. Dimensional Fund Advisors LP grew its holdings in Ramaco Resources by 48.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 76,718 shares of the company's stock valued at $758,000 after buying an additional 25,084 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Ramaco Resources by 12.6% during the 1st quarter. American Century Companies Inc. now owns 196,657 shares of the company's stock valued at $1,398,000 after acquiring an additional 21,956 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Ramaco Resources by 145.3% during the 1st quarter. Wellington Management Group LLP now owns 36,176 shares of the company's stock valued at $257,000 after acquiring an additional 21,430 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Ramaco Resources during the 1st quarter valued at approximately $97,000. Finally, Nuveen LLC bought a new position in shares of Ramaco Resources during the 1st quarter valued at approximately $79,000. 9.63% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Price Performance

Shares of NASDAQ METCB traded up $0.13 during midday trading on Tuesday, reaching $16.30. 53,731 shares of the stock traded hands, compared to its average volume of 70,032. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The stock has a market capitalization of $900.25 million, a PE ratio of -35.43 and a beta of 0.91. Ramaco Resources, Inc. has a one year low of $6.01 and a one year high of $20.81. The company's 50 day moving average is $14.72 and its 200 day moving average is $10.29.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.29) EPS for the quarter. The firm had revenue of $152.96 million for the quarter. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.70%.

Ramaco Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.1918 per share. The ex-dividend date is Friday, September 5th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from Ramaco Resources's previous quarterly dividend of $0.18. Ramaco Resources's dividend payout ratio is currently -167.39%.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.