Forest Avenue Capital Management LP Boosts Holdings in Warrior Met Coal $HCC

Forest Avenue Capital Management LP increased its stake in shares of Warrior Met Coal (NYSE:HCC) by 19.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 651,650 shares of the company’s stock after buying an additional 106,461 shares during the period. Warrior Met Coal comprises about 4.2% of Forest Avenue Capital Management LP’s holdings, making the stock its 12th biggest position. Forest Avenue Capital Management LP owned about 1.24% of Warrior Met Coal worth $31,097,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings in Warrior Met Coal by 18.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,361,627 shares of the company’s stock worth $112,697,000 after buying an additional 367,326 shares during the last quarter. Third Avenue Management LLC boosted its position in Warrior Met Coal by 4.4% during the first quarter. Third Avenue Management LLC now owns 613,206 shares of the company’s stock worth $29,262,000 after purchasing an additional 25,761 shares during the period. Dalal Street LLC boosted its position in Warrior Met Coal by 5.6% during the first quarter. Dalal Street LLC now owns 1,799,580 shares of the company’s stock worth $85,876,000 after purchasing an additional 94,910 shares during the period. Wellington Management Group LLP boosted its position in Warrior Met Coal by 45.9% during the first quarter. Wellington Management Group LLP now owns 177,574 shares of the company’s stock worth $8,474,000 after purchasing an additional 55,904 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Warrior Met Coal by 9.1% during the first quarter. Raymond James Financial Inc. now owns 91,603 shares of the company’s stock worth $4,371,000 after purchasing an additional 7,649 shares during the period. Hedge funds and other institutional investors own 92.28% of the company’s stock.

Warrior Met Coal Trading Up 3.8%

Shares of Warrior Met Coal stock opened at $59.3960 on Friday. Warrior Met Coal has a 1 year low of $38.00 and a 1 year high of $75.15. The firm has a market cap of $3.12 billion, a PE ratio of 77.14 and a beta of 0.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.59 and a quick ratio of 3.44. The company has a 50 day simple moving average of $52.46 and a two-hundred day simple moving average of $49.46.

Warrior Met Coal (NYSE:HCC) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate 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 business’s revenue was down 25.0% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share. Analysts expect that Warrior Met Coal will post 4.86 earnings per share for the current fiscal year.

Warrior Met Coal Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, August 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Warrior Met Coal’s dividend payout ratio (DPR) is 41.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of Warrior Met Coal from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. 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 research report on Thursday, August 7th. Finally, B. Riley cut their target price 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Warrior Met Coal presently has a consensus rating of “Hold” and an average target price of $63.50.

Warrior Met Coal Profile

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.