Ramaco Resources (NASDAQ:METCB) Trading Down 3.3% - Here's What Happened

Key Points

• Shares of Ramaco Resources (NASDAQ:METCB) fell 3.3% during trading on Wednesday, trading as low as $15.75 amidst a significant decrease in trading volume.
• The company announced an increase in its quarterly dividend to $0.1918, yielding 5.0% annually, with a payout ratio of -167.39%.
• Recent institutional investments include a 1,403.7% increase in holdings by Russell Investments Group Ltd. and notable new positions from Nuveen LLC and XTX Topco Ltd.

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report)'s stock price was down 3.3% during mid-day trading on Wednesday . The stock traded as low as $15.75 and last traded at $15.76. Approximately 35,297 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 104,178 shares. The stock had previously closed at $16.30.

Ramaco Resources Trading Down 0.1%

The firm's fifty day simple moving average is $15.11 and its two-hundred day simple moving average is $10.48. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.36.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.29) earnings per share (EPS) for the quarter. The company had revenue of $152.96 million during 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 firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.1918 dividend. This is a boost from Ramaco Resources's previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, September 5th. Ramaco Resources's payout ratio is -167.39%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of Ramaco Resources by 64.6% in the 4th quarter. Bank of America Corp DE now owns 12,516 shares of the company's stock worth $124,000 after acquiring an additional 4,914 shares during the period. Wellington Management Group LLP acquired a new stake in Ramaco Resources in the fourth quarter valued at $146,000. Acuitas Investments LLC lifted its holdings in Ramaco Resources by 1.6% in the first quarter. Acuitas Investments LLC now owns 149,900 shares of the company's stock valued at $1,066,000 after acquiring an additional 2,362 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ramaco Resources by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 25,628 shares of the company's stock worth $182,000 after purchasing an additional 1,848 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Ramaco Resources during the 1st quarter worth $97,000. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.