Woodline Partners LP Grows Holdings in Warrior Met Coal $HCC

Key Points

• Woodline Partners LP has increased its stake in Warrior Met Coal by 33.5%, acquiring an additional 224,558 shares during the 1st quarter, now holding approximately 1.70% of the company valued at $42.7 million.
• Research analysts have raised their price targets for the stock, with UBS increasing its target from $50 to $60, and B. Riley adjusting their target down to $74 while maintaining a "buy" rating.
• Warrior Met Coal reported earnings of $0.11 per share for the quarter, exceeding analyst expectations, despite a year-over-year revenue decline of 25% compared to the previous year.

Woodline Partners LP increased its position in Warrior Met Coal (NYSE:HCC - Free Report) by 33.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,938 shares of the company's stock after purchasing an additional 224,558 shares during the period. Woodline Partners LP owned approximately 1.70% of Warrior Met Coal worth $42,706,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Warrior Met Coal by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 322,545 shares of the company's stock worth $15,392,000 after buying an additional 10,608 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Warrior Met Coal in the 1st quarter worth about $334,000. D. E. Shaw & Co. Inc. raised its position in Warrior Met Coal by 14.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 58,877 shares of the company's stock worth $3,193,000 after buying an additional 7,426 shares during the last quarter. Kennondale Capital Management LLC increased its position in shares of Warrior Met Coal by 39.1% during the 1st quarter. Kennondale Capital Management LLC now owns 38,586 shares of the company's stock valued at $1,841,000 after purchasing an additional 10,839 shares during the last quarter. Finally, Skylands Capital LLC purchased a new stake in shares of Warrior Met Coal during the 1st quarter valued at about $1,312,000. Institutional investors own 92.28% of the company's stock.

Warrior Met Coal Trading Up 5.1%

NYSE:HCC traded up $2.96 during midday trading on Monday, hitting $60.83. 421,908 shares of the company traded hands, compared to its average volume of 972,717. The firm's fifty day moving average is $56.37 and its 200-day moving average is $50.24. Warrior Met Coal has a 12-month low of $38.00 and a 12-month high of $75.15. The firm has a market capitalization of $3.20 billion, a P/E ratio of 79.10 and a beta of 0.74. The company has a current ratio of 4.59, a quick ratio of 3.44 and a debt-to-equity ratio of 0.12.

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

Warrior Met Coal Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HCC shares. Wall Street Zen lowered shares of Warrior Met Coal from a "hold" rating to a "sell" rating in a research 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 research report on Wednesday, August 20th. B. Riley reduced 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 research report on Tuesday, July 22nd. Finally, BMO Capital Markets set a $55.00 target price on shares of Warrior Met Coal and gave the stock a "market perform" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Warrior Met Coal presently has an average rating of "Hold" and a consensus 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.