Rhumbline Advisers Sells 9,376 Shares of Warrior Met Coal $HCC

Key Points

• Rhumbline Advisers decreased its stake in Warrior Met Coal by 6.1% during Q1 2023, bringing its total shares to 145,418, valued at approximately $6.9 million.
• Multiple hedge funds adjusted their holdings in Warrior Met Coal, with T. Rowe Price increasing its stake by 18.4% to over 2.36 million shares, valued at around $112.7 million.
• The company reported a quarterly EPS of $0.11, exceeding expectations, but its revenue fell 25% year-over-year to $297.52 million.

Rhumbline Advisers cut its holdings in shares of Warrior Met Coal (NYSE:HCC - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,418 shares of the company's stock after selling 9,376 shares during the quarter. Rhumbline Advisers owned 0.28% of Warrior Met Coal worth $6,939,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HCC. D. E. Shaw & Co. Inc. raised its stake in shares of Warrior Met Coal by 14.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 58,877 shares of the company's stock worth $3,193,000 after acquiring an additional 7,426 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Warrior Met Coal by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,509 shares of the company's stock valued at $1,601,000 after buying an additional 1,134 shares during the last quarter. Millennium Management LLC bought a new stake in Warrior Met Coal during the 4th quarter valued at $1,592,000. Numerai GP LLC bought a new stake in Warrior Met Coal during the 4th quarter valued at $402,000. Finally, Silver Point Capital L.P. bought a new stake in Warrior Met Coal during the 4th quarter valued at $34,985,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

Warrior Met Coal Stock Up 1.3%

Shares of NYSE:HCC traded up $0.81 during midday trading on Wednesday, reaching $63.28. The company's stock had a trading volume of 371,399 shares, compared to its average volume of 971,144. The firm has a 50 day moving average of $56.90 and a 200-day moving average of $50.42. The firm has a market capitalization of $3.33 billion, a P/E ratio of 82.29 and a beta of 0.74. The company has a quick ratio of 3.44, a current ratio of 4.59 and a debt-to-equity ratio of 0.12. Warrior Met Coal has a 12-month low of $38.00 and a 12-month high of $75.15.

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

Warrior Met Coal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 8th. This represents a $0.32 annualized dividend and a yield of 0.5%. Warrior Met Coal's dividend payout ratio is currently 41.56%.

Analyst Ratings Changes

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

About Warrior Met Coal

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.