Russell Investments Group Ltd. increased its holdings in Navios Maritime Partners L.P. (NYSE:NMM) by 140.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,020 shares of the shipping company’s stock after buying an additional 4,100 shares during the quarter. Russell Investments Group Ltd.’s holdings in Navios Maritime Partners were worth $124,000 at the end of the most recent reporting period.
Separately, BlackRock Inc. acquired a new position in Navios Maritime Partners during the 2nd quarter valued at about $276,000. 14.08% of the stock is owned by institutional investors.
Shares of NMM stock opened at $17.85 on Friday. Navios Maritime Partners L.P. has a 1 year low of $11.43 and a 1 year high of $21.30. The stock has a market cap of $196.72 million, a PE ratio of 5.41 and a beta of 1.88. The business’s fifty day moving average is $18.98 and its 200-day moving average is $16.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend was Wednesday, November 6th. Navios Maritime Partners’s payout ratio is currently 36.36%.
A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of Navios Maritime Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Citigroup lowered their price objective on shares of Navios Maritime Partners from $33.75 to $21.50 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Zacks Investment Research upgraded shares of Navios Maritime Partners from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, October 29th.
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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.
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