Principal Financial Group Inc. Sells 29,054 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Principal Financial Group Inc. trimmed its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 45.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,263 shares of the energy company’s stock after selling 29,054 shares during the period. Principal Financial Group Inc.’s holdings in Ramaco Resources were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new position in shares of Ramaco Resources in the third quarter worth approximately $22,127,000. Dimensional Fund Advisors LP boosted its holdings in Ramaco Resources by 21.7% in 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. American Century Companies Inc. boosted its stake in shares of Ramaco Resources by 14.9% in the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after acquiring an additional 90,014 shares during the period. Millennium Management LLC grew its holdings in Ramaco Resources by 22.4% during the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after buying an additional 79,687 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Ramaco Resources by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after acquiring an additional 18,393 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $10.36 on Monday. Ramaco Resources, Inc. has a one year low of $9.03 and a one year high of $22.70. The firm has a market cap of $544.20 million, a PE ratio of 15.94 and a beta of 1.18. The firm’s 50 day simple moving average is $11.55 and its 200-day simple moving average is $11.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

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

Ramaco Resources Cuts Dividend

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

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.