Navios Maritime Partners (NYSE:NMM) Reaches New 12-Month High – Still a Buy?

Navios Maritime Partners LP (NYSE:NMM) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.56 and last traded at $62.4030, with a volume of 30440 shares. The stock had previously closed at $61.94.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NMM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. Wall Street Zen lowered shares of Navios Maritime Partners from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Navios Maritime Partners Stock Up 3.2%

The company has a market capitalization of $1.98 billion, a PE ratio of 7.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day moving average is $56.04 and its 200 day moving average is $50.83.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The firm had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. During the same quarter in the prior year, the firm posted $2.61 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, analysts anticipate that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, February 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Allworth Financial LP bought a new position in Navios Maritime Partners during the second quarter valued at approximately $47,000. TD Waterhouse Canada Inc. purchased a new stake in Navios Maritime Partners in the second quarter worth approximately $62,000. State of Wyoming bought a new stake in Navios Maritime Partners in the 4th quarter worth approximately $137,000. Finally, Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners during the 4th quarter valued at $207,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.