Forest Avenue Capital Management LP Acquires 100,714 Shares of Warrior Met Coal, Inc. (NYSE:HCC)

Forest Avenue Capital Management LP lifted its holdings in Warrior Met Coal, Inc. (NYSE:HCC) by 91.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 211,014 shares of the company’s stock after purchasing an additional 100,714 shares during the quarter. Warrior Met Coal comprises about 1.8% of Forest Avenue Capital Management LP’s holdings, making the stock its 22nd biggest holding. Forest Avenue Capital Management LP’s holdings in Warrior Met Coal were worth $13,245,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wulff Hansen & CO. increased its position in Warrior Met Coal by 6,177.0% in the second quarter. Wulff Hansen & CO. now owns 331,551 shares of the company’s stock worth $20,811,000 after purchasing an additional 326,269 shares during the period. Hosking Partners LLP lifted its position in Warrior Met Coal by 68.9% during the 2nd quarter. Hosking Partners LLP now owns 482,147 shares of the company’s stock valued at $30,264,000 after purchasing an additional 196,601 shares during the period. Clearbridge Investments LLC acquired a new position in Warrior Met Coal during the 1st quarter valued at about $9,234,000. Jupiter Asset Management Ltd. acquired a new position in Warrior Met Coal during the 1st quarter valued at about $7,021,000. Finally, American Century Companies Inc. lifted its position in Warrior Met Coal by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 1,440,965 shares of the company’s stock valued at $90,449,000 after purchasing an additional 82,622 shares during the period. 92.28% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Kelli K. Gant sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $75.06, for a total transaction of $750,600.00. Following the completion of the sale, the insider now directly owns 61,678 shares of the company’s stock, valued at approximately $4,629,550.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Walter J. Scheller sold 23,148 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $75.15, for a total transaction of $1,739,572.20. Following the completion of the sale, the chief executive officer now directly owns 340,485 shares of the company’s stock, valued at approximately $25,587,447.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kelli K. Gant sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $75.06, for a total value of $750,600.00. Following the sale, the insider now directly owns 61,678 shares of the company’s stock, valued at $4,629,550.68. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Warrior Met Coal Stock Performance

Shares of HCC stock opened at $55.05 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.37 and a quick ratio of 5.37. The stock has a market cap of $2.88 billion, a PE ratio of 6.62 and a beta of 1.02. The stock has a 50-day moving average of $60.74 and a 200-day moving average of $62.86. Warrior Met Coal, Inc. has a one year low of $44.60 and a one year high of $75.53.

Warrior Met Coal (NYSE:HCC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. The company had revenue of $396.52 million during the quarter, compared to analysts’ expectations of $387.91 million. Warrior Met Coal had a return on equity of 22.71% and a net margin of 25.01%. Warrior Met Coal’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 EPS. As a group, sell-side analysts expect that Warrior Met Coal, Inc. will post 5.55 earnings per share for the current year.

Warrior Met Coal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. Warrior Met Coal’s dividend payout ratio (DPR) is presently 3.85%.

Analysts Set New Price Targets

HCC has been the topic of a number of research reports. B. Riley cut their target price on shares of Warrior Met Coal from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Benchmark restated a “hold” rating on shares of Warrior Met Coal in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.60.

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.