Genco Shipping & Trading Limited (NYSE:GNK) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in Genco Shipping & Trading Limited (NYSE:GNK) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,869,297 shares of the shipping company’s stock after acquiring an additional 33,150 shares during the period. Dimensional Fund Advisors LP owned 6.71% of Genco Shipping & Trading worth $61,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Genco Shipping & Trading by 22.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 323,687 shares of the shipping company’s stock valued at $5,370,000 after buying an additional 58,917 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Genco Shipping & Trading by 30.8% in the fourth quarter. Allianz Asset Management GmbH now owns 156,085 shares of the shipping company’s stock valued at $2,589,000 after purchasing an additional 36,776 shares during the last quarter. Armor Advisors L.L.C. lifted its position in Genco Shipping & Trading by 16.4% during the fourth quarter. Armor Advisors L.L.C. now owns 113,785 shares of the shipping company’s stock worth $1,888,000 after buying an additional 16,000 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Genco Shipping & Trading during the fourth quarter worth $387,000. Finally, Aurora Investment Counsel boosted its stake in Genco Shipping & Trading by 3.3% during the fourth quarter. Aurora Investment Counsel now owns 79,183 shares of the shipping company’s stock worth $1,314,000 after buying an additional 2,549 shares during the last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GNK shares. Alliance Global Partners boosted their price target on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genco Shipping & Trading in a report on Wednesday, September 4th. They issued a “buy” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Genco Shipping & Trading has a consensus rating of “Moderate Buy” and a consensus price target of $25.80.

Genco Shipping & Trading Trading Down 0.5 %

Shares of GNK stock opened at $19.16 on Friday. The company has a 50-day moving average of $17.96 and a two-hundred day moving average of $20.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.59 and a quick ratio of 2.94. Genco Shipping & Trading Limited has a 1-year low of $12.65 and a 1-year high of $23.43. The firm has a market cap of $819.03 million, a PE ratio of 319.25, a price-to-earnings-growth ratio of 0.26 and a beta of 0.95.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The company had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $74.86 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Genco Shipping & Trading Limited will post 2.1 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a dividend of $0.34 per share. The ex-dividend date was Monday, August 19th. This represents a $1.36 annualized dividend and a dividend yield of 7.10%. Genco Shipping & Trading’s dividend payout ratio is presently 2,266.67%.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.