Wellington Management Group LLP Has $10.95 Million Stock Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Wellington Management Group LLP trimmed its position in Ramaco Resources, Inc. (NASDAQ:METC) by 43.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,067,142 shares of the energy company’s stock after selling 824,092 shares during the period. Wellington Management Group LLP owned approximately 2.03% of Ramaco Resources worth $10,949,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its position in shares of Ramaco Resources by 10.8% in the 4th quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock valued at $8,936,000 after acquiring an additional 84,734 shares during the period. Bank of New York Mellon Corp raised its holdings in Ramaco Resources by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company’s stock worth $5,376,000 after buying an additional 155,169 shares during the period. FMR LLC raised its holdings in Ramaco Resources by 5.3% during the 3rd quarter. FMR LLC now owns 371,885 shares of the energy company’s stock worth $4,351,000 after buying an additional 18,582 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ramaco Resources by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,367 shares of the energy company’s stock worth $2,723,000 after buying an additional 3,013 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. raised its holdings in Ramaco Resources by 0.8% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company’s stock worth $2,251,000 after buying an additional 1,748 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Price Performance

NASDAQ METC opened at $7.91 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a 12-month low of $6.30 and a 12-month high of $16.92. The company has a market capitalization of $427.14 million, a PE ratio of 12.17 and a beta of 1.14. The firm’s 50 day moving average is $9.07 and its 200-day moving average is $10.34.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. During the same quarter last year, the business earned $0.24 earnings per share. Ramaco Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities research analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.48%. Ramaco Resources’s dividend payout ratio is presently 245.45%.

Insider Activity at Ramaco Resources

In related news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the transaction, the insider now directly owns 1,024,870 shares of the company’s stock, valued at approximately $8,291,198.30. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $869,724.90. Following the completion of the transaction, the insider now directly owns 1,052,404 shares of the company’s stock, valued at $9,313,775.40. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 922,582 shares of company stock valued at $7,898,023. 41.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on METC shares. Benchmark restated a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th. Jefferies Financial Group dropped their target price on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

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.