Travelers Companies Inc. Makes New $145,000 Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Travelers Companies Inc. bought a new stake in Ramaco Resources, Inc. (NASDAQ:METC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,151 shares of the energy company’s stock, valued at approximately $145,000. Ramaco Resources comprises 0.1% of Travelers Companies Inc.’s holdings, making the stock its 2nd largest holding.

Other hedge funds have also modified their holdings of the company. Pingora Partners LLC raised its position in shares of Ramaco Resources by 330.2% in the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after buying an additional 2,840 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Ramaco Resources in the third quarter valued at about $45,000. AlphaQuest LLC acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at about $50,000. Jones Financial Companies Lllp acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at about $56,000. Finally, Prairiewood Capital LLC acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at about $103,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Ramaco Resources Price Performance

Ramaco Resources stock opened at $8.40 on Tuesday. Ramaco Resources, Inc. has a 12-month low of $8.17 and a 12-month high of $20.11. The stock has a market cap of $441.24 million, a P/E ratio of 12.92 and a beta of 1.17. The company has a 50-day moving average price of $9.67 and a 200 day moving average price of $10.72. 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 released its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (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 firm had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. Ramaco Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. Sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Announces Dividend

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

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.