Travelers Companies Inc. Makes New Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Travelers Companies Inc. acquired a new stake in Ramaco Resources, Inc. (NASDAQ:METC) in the 4th quarter, HoldingsChannel reports. The fund acquired 14,151 shares of the energy company’s stock, valued at approximately $145,000. Ramaco Resources accounts for 0.1% of Travelers Companies Inc.’s investment portfolio, making the stock its 2nd biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in METC. Wellington Management Group LLP purchased a new position in shares of Ramaco Resources in the third quarter valued at approximately $22,127,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $3,070,000 after purchasing an additional 183,163 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Ramaco Resources by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company’s stock valued at $5,376,000 after purchasing an additional 155,169 shares during the period. Acuitas Investments LLC boosted its stake in shares of Ramaco Resources by 153.1% in the fourth quarter. Acuitas Investments LLC now owns 152,097 shares of the energy company’s stock valued at $1,561,000 after purchasing an additional 92,008 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Ramaco Resources by 190.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock valued at $1,053,000 after purchasing an additional 58,980 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $8.40 on Tuesday. The firm has a market cap of $441.24 million, a price-to-earnings ratio of 12.92 and a beta of 1.17. Ramaco Resources, Inc. has a 1-year low of $8.17 and a 1-year high of $20.11. The firm’s fifty day moving average price is $9.67 and its 200 day moving average price is $10.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

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

Ramaco Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, February 28th. Ramaco Resources’s dividend payout ratio is currently 84.62%.

Ramaco Resources Company 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.