Wellington Management Group LLP Sells 824,092 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wellington Management Group LLP cut its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,067,142 shares of the energy company's stock after selling 824,092 shares during the period. Wellington Management Group LLP owned about 2.40% of Ramaco Resources worth $10,949,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of METC. Principal Financial Group Inc. increased its holdings in Ramaco Resources by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock valued at $390,000 after buying an additional 3,754 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Ramaco Resources during the 4th quarter valued at about $224,000. New York State Common Retirement Fund boosted its position in shares of Ramaco Resources by 12.5% during the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock valued at $185,000 after acquiring an additional 2,000 shares in the last quarter. MetLife Investment Management LLC increased its stake in Ramaco Resources by 13.9% in the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after acquiring an additional 1,970 shares during the period. Finally, Renaissance Technologies LLC raised its position in Ramaco Resources by 31.1% in the fourth quarter. Renaissance Technologies LLC now owns 119,800 shares of the energy company's stock worth $1,229,000 after purchasing an additional 28,400 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ramaco Resources

In other news, Director Peter A. Leidel sold 180,936 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the completion of the sale, the director now directly owns 708,001 shares in the company, valued at approximately $6,244,568.82. This trade represents a 20.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of Ramaco Resources stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.61, for a total value of $722,129.31. Following the completion of the transaction, the insider now directly owns 1,059,909 shares of the company's stock, valued at $9,125,816.49. This represents a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 922,582 shares of company stock worth $7,898,023. 36.20% of the stock is currently owned by insiders.

Ramaco Resources Price Performance

METC stock traded up $0.49 during trading on Wednesday, hitting $9.93. 1,032,664 shares of the stock traded hands, compared to its average volume of 618,769. The stock has a market cap of $543.21 million, a price-to-earnings ratio of 15.28 and a beta of 1.28. Ramaco Resources, Inc. has a one year low of $6.24 and a one year high of $15.35. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $9.01 and a 200 day simple moving average of $9.85.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. The company had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company's revenue was down 22.0% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. Equities analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.0688 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.77%. Ramaco Resources's dividend payout ratio is -337.50%.

Wall Street Analyst Weigh In

METC has been the topic of a number of recent research reports. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Benchmark cut their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, B. Riley decreased their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

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.