Wedge Capital Management L L P NC Has $1.09 Million Stock Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Wedge Capital Management L L P NC reduced its holdings in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,165 shares of the energy company's stock after selling 44,916 shares during the period. Wedge Capital Management L L P NC owned about 0.24% of Ramaco Resources worth $1,088,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ramaco Resources by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock worth $427,000 after purchasing an additional 1,425 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ramaco Resources by 15.3% during the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock worth $141,000 after purchasing an additional 1,822 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Ramaco Resources by 13.9% during the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock worth $166,000 after purchasing an additional 1,970 shares in the last quarter. New York State Common Retirement Fund raised its stake 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 worth $185,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Ramaco Resources by 27.3% during the 4th quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock valued at $132,000 after acquiring an additional 2,760 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Stock Performance

METC traded up $0.73 during midday trading on Friday, reaching $10.98. The company's stock had a trading volume of 1,397,280 shares, compared to its average volume of 626,690. The stock has a market cap of $600.65 million, a P/E ratio of 16.89 and a beta of 1.18. The company has a fifty day simple moving average of $9.38 and a 200 day simple moving average of $9.69. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a twelve month low of $6.24 and a twelve month high of $15.35.

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

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's payout ratio is presently -337.50%.

Analyst Ratings Changes

A number of research analysts have recently commented on METC shares. Benchmark lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. B. Riley lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Insider Activity at Ramaco Resources

In related news, Director Peter A. Leidel sold 180,936 shares of the business'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 sale, the director now owns 708,001 shares of the company's stock, valued at $6,244,568.82. The trade was a 20.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the sale, the insider now directly owns 1,024,870 shares in the company, valued at approximately $8,291,198.30. This represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 922,582 shares of company stock valued at $7,898,023 in the last 90 days. 36.20% of the stock is owned by corporate insiders.

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.