Natural Resource Partners (NYSE:NRP) Reaches New 12-Month High Following Dividend Announcement

Shares of Natural Resource Partners L.P. (NYSE:NRP) hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $102.00 and last traded at $101.34, with a volume of 60152 shares changing hands. The stock had previously closed at $99.00.

The newly announced dividend which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 19th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $3.00 annualized dividend and a dividend yield of 2.92%. Natural Resource Partners’s payout ratio is presently 22.49%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Natural Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 17th.

Natural Resource Partners Stock Performance

The business has a fifty day moving average of $94.69 and a 200 day moving average of $92.18. The company has a market cap of $1.33 billion, a P/E ratio of 7.70 and a beta of 0.50. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.39.

Natural Resource Partners (NYSE:NRP) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $2.29 EPS for the quarter. The business had revenue of $65.54 million during the quarter. Natural Resource Partners had a net margin of 70.55% and a return on equity of 44.97%.

Hedge Funds Weigh In On Natural Resource Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Eubel Brady & Suttman Asset Management Inc. boosted its position in Natural Resource Partners by 1,035.2% during the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 117,100 shares of the energy company’s stock valued at $10,497,000 after acquiring an additional 106,785 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Natural Resource Partners during the second quarter valued at approximately $1,496,000. GSA Capital Partners LLP grew its stake in Natural Resource Partners by 11.2% in the first quarter. GSA Capital Partners LLP now owns 9,939 shares of the energy company’s stock worth $914,000 after purchasing an additional 999 shares during the period. Solidarity Wealth LLC lifted its position in Natural Resource Partners by 1,038.6% during the third quarter. Solidarity Wealth LLC now owns 46,615 shares of the energy company’s stock valued at $4,559,000 after buying an additional 42,521 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Natural Resource Partners during the 3rd quarter valued at $5,433,000. Hedge funds and other institutional investors own 31.77% of the company’s stock.

About Natural Resource Partners

Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. It operates in two segments, Mineral Rights and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources. Its coal reserves are primarily located in the Appalachia Basin, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties located in the United States; and oil and gas properties located in Louisiana.