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

Shares of Navios Maritime Partners L.P. (NYSE:NMM) reached a new 52-week high during trading on Monday . The stock traded as high as $56.66 and last traded at $56.44, with a volume of 164607 shares changing 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 report on Wednesday, August 21st.

Navios Maritime Partners Stock Performance

The stock has a fifty day moving average of $49.78 and a 200-day moving average of $47.19. 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 $1.65 billion, a PE ratio of 4.14 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.22. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.28%. The business had revenue of $342.20 million for the quarter, compared to analyst estimates of $312.39 million. During the same quarter in the previous year, the company posted $3.32 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Navios Maritime Partners L.P. will post 14.8 EPS for the current year.

Navios Maritime Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.51%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Jump Financial LLC boosted its holdings in Navios Maritime Partners by 135.5% in the 4th quarter. Jump Financial LLC now owns 21,900 shares of the shipping company’s stock valued at $612,000 after purchasing an additional 12,600 shares in the last quarter. Westhampton Capital LLC acquired a new position in Navios Maritime Partners during the first quarter worth $241,000. Commonwealth Equity Services LLC grew its holdings in Navios Maritime Partners by 11.2% during the first quarter. Commonwealth Equity Services LLC now owns 129,538 shares of the shipping company’s stock worth $5,521,000 after acquiring an additional 13,037 shares during the period. BNP Paribas Financial Markets raised its position in Navios Maritime Partners by 30,700.0% in the first quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Navios Maritime Partners in the first quarter valued at $555,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

About Navios Maritime Partners

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.