Navios Maritime Partners (NYSE:NMM) Hits New 12-Month High at $56.66

Navios Maritime Partners L.P. (NYSE:NMM)’s share price reached a new 52-week high on Monday . The stock traded as high as $56.66 and last traded at $56.44, with a volume of 164607 shares trading hands. The stock had previously closed at $56.12.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

Navios Maritime Partners Stock Up 1.1 %

The company’s 50 day moving average price is $49.56 and its two-hundred day moving average price is $46.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.71 billion, a P/E ratio of 4.24 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.22. The firm had revenue of $342.20 million during the quarter, compared to the consensus estimate of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.86%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.32 earnings per share. As a group, research analysts expect that Navios Maritime Partners L.P. will post 14.8 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is 1.51%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of large investors have recently bought and sold shares of NMM. Main Street Financial Solutions LLC raised its stake in Navios Maritime Partners by 2,977.2% in the second quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock worth $38,315,000 after buying an additional 726,435 shares in the last quarter. Acadian Asset Management LLC raised its stake in Navios Maritime Partners by 870.2% in the second quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock worth $6,463,000 after buying an additional 113,649 shares in the last quarter. Sei Investments Co. raised its stake in Navios Maritime Partners by 748.2% in the second quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after buying an additional 48,612 shares in the last quarter. Ieq Capital LLC bought a new position in Navios Maritime Partners in the second quarter worth approximately $2,064,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in Navios Maritime Partners in the second quarter worth $1,375,000. Institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.