First Manhattan CO. LLC. Has $2.47 Million Stock Holdings in Ramaco Resources, Inc. (NASDAQ:METCB)

First Manhattan CO. LLC. grew its stake in shares of Ramaco Resources, Inc. (NASDAQ:METCB) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 249,912 shares of the company’s stock after acquiring an additional 9,405 shares during the quarter. First Manhattan CO. LLC.’s holdings in Ramaco Resources were worth $2,469,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of METCB. Barclays PLC increased its stake in shares of Ramaco Resources by 321.3% in the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after purchasing an additional 5,479 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ramaco Resources by 191.9% in the third quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after acquiring an additional 6,103 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in Ramaco Resources during the fourth quarter worth about $106,000. Wells Fargo & Company MN lifted its holdings in shares of Ramaco Resources by 620.7% in the fourth quarter. Wells Fargo & Company MN now owns 11,099 shares of the company’s stock worth $110,000 after acquiring an additional 9,559 shares during the last quarter. Finally, Bank of America Corp DE boosted 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 valued at $124,000 after purchasing an additional 4,914 shares in the last quarter. 9.63% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Trading Up 1.1 %

Shares of Ramaco Resources stock opened at $8.81 on Friday. The firm has a market capitalization of $475.74 million, a PE ratio of 25.91 and a beta of 1.03. The firm’s 50 day moving average is $8.00 and its 200 day moving average is $9.14. Ramaco Resources, Inc. has a 1 year low of $6.01 and a 1 year high of $11.60.

Ramaco Resources (NASDAQ:METCB) last announced its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $170.89 million for the quarter.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.1971 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date was Friday, February 28th. Ramaco Resources’s payout ratio is 229.41%.

Ramaco Resources 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.