UBS Group AG boosted its holdings in Genco Shipping & Trading Limited (NYSE:GNK – Free Report) by 33.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,263 shares of the shipping company’s stock after buying an additional 38,310 shares during the period. UBS Group AG’s holdings in Genco Shipping & Trading were worth $2,825,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in Genco Shipping & Trading by 4.0% in the 3rd quarter. American Century Companies Inc. now owns 1,611,227 shares of the shipping company’s stock worth $28,680,000 after buying an additional 62,030 shares during the period. Townsend & Associates Inc increased its position in Genco Shipping & Trading by 0.7% in the 4th quarter. Townsend & Associates Inc now owns 1,276,311 shares of the shipping company’s stock worth $25,373,000 after buying an additional 8,488 shares during the period. Focus Partners Wealth increased its position in Genco Shipping & Trading by 3.9% in the 3rd quarter. Focus Partners Wealth now owns 836,775 shares of the shipping company’s stock worth $14,959,000 after buying an additional 31,596 shares during the period. Bridgeway Capital Management LLC increased its position in Genco Shipping & Trading by 0.9% in the 3rd quarter. Bridgeway Capital Management LLC now owns 456,157 shares of the shipping company’s stock worth $8,120,000 after buying an additional 4,288 shares during the period. Finally, CSM Advisors LLC increased its position in Genco Shipping & Trading by 18.4% in the 3rd quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock worth $6,248,000 after buying an additional 54,575 shares during the period. 58.62% of the stock is owned by institutional investors.
Genco Shipping & Trading Price Performance
Shares of NYSE:GNK opened at $23.39 on Tuesday. Genco Shipping & Trading Limited has a 1-year low of $12.66 and a 1-year high of $27.25. The firm has a market capitalization of $1.02 billion, a PE ratio of 61.56, a PEG ratio of 3.37 and a beta of 0.97. The business’s 50 day moving average is $23.69 and its 200-day moving average is $21.21. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 0.36.
Genco Shipping & Trading Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, May 18th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 368.42%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on GNK. Weiss Ratings raised Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. Zacks Research lowered Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $29.00 price objective on shares of Genco Shipping & Trading in a report on Friday, May 8th. Finally, Alliance Global Partners lowered Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.67.
Read Our Latest Stock Report on GNK
About Genco Shipping & Trading
Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.
In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.
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