Ramaco Resources, Inc. (NASDAQ:METCB – Get Free Report) shares saw strong trading volume on Tuesday after the company announced a dividend. 24,989 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 41,488 shares.The stock last traded at $10.85 and had previously closed at $10.71.
The newly announced dividend which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.2416 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date of this dividend is Thursday, February 29th.
Ramaco Resources Trading Down 1.3 %
The company’s 50-day simple moving average is $13.24 and its 200 day simple moving average is $12.76.
In other news, Director Bryan H. Lawrence sold 316,623 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total value of $5,613,725.79. Following the sale, the director now directly owns 730,408 shares of the company’s stock, valued at $12,950,133.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Bryan H. Lawrence sold 44,276 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $18.19, for a total value of $805,380.44. Following the completion of the sale, the director now owns 737,932 shares in the company, valued at $13,422,983.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bryan H. Lawrence sold 316,623 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total transaction of $5,613,725.79. Following the transaction, the director now owns 730,408 shares of the company’s stock, valued at approximately $12,950,133.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,626,787 shares of company stock valued at $27,908,729.
Institutional Investors Weigh In On Ramaco Resources
A number of hedge funds have recently made changes to their positions in the company. Yorktown Energy Partners IX L.P. bought a new stake in shares of Ramaco Resources during the second quarter valued at approximately $11,903,000. Yorktown Energy Partners XI L.P. bought a new stake in shares of Ramaco Resources during the second quarter valued at approximately $11,856,000. Yorktown Energy Partners X L.P. acquired a new position in Ramaco Resources in the second quarter valued at approximately $7,836,000. Vanguard Group Inc. lifted its holdings in Ramaco Resources by 46.3% in the third quarter. Vanguard Group Inc. now owns 355,771 shares of the company’s stock valued at $4,244,000 after buying an additional 112,647 shares during the period. Finally, BlackRock Inc. acquired a new position in Ramaco Resources in the second quarter valued at approximately $3,434,000. Institutional investors and hedge funds own 9.51% of the company’s stock.
Ramaco Resources Company Profile
Ramaco Resources, Inc operates, develops, and sells metallurgical coal. Its development portfolio includes the Elk Creek project located in southern West Virginia; the Berwind property situated on the border of West Virginia and Virginia; the Knox Creek property is located in Virginia; and the RAM Mine property situated in southwestern Pennsylvania.
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