Principal Financial Group Inc. Has $401,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

Principal Financial Group Inc. trimmed its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 45.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,263 shares of the energy company’s stock after selling 29,054 shares during the quarter. Principal Financial Group Inc. owned about 0.07% of Ramaco Resources worth $401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in shares of Ramaco Resources during the 3rd quarter worth about $22,127,000. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after buying an additional 245,924 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after acquiring an additional 183,163 shares in the last quarter. Marshall Wace LLP grew its stake in Ramaco Resources by 287.2% in the second quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock valued at $1,563,000 after acquiring an additional 93,139 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after acquiring an additional 90,014 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Stock Performance

Shares of METC stock opened at $10.36 on Monday. The stock has a market capitalization of $544.20 million, a P/E ratio of 15.94 and a beta of 1.18. The firm’s 50 day moving average is $11.55 and its 200 day moving average is $11.88. Ramaco Resources, Inc. has a 12 month low of $9.03 and a 12 month high of $22.70. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend was Monday, December 2nd. Ramaco Resources’s payout ratio is presently 84.62%.

Analyst Ratings Changes

Separately, B. Riley decreased their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

About Ramaco Resources

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.