Navios Maritime Partners (NYSE:NMM) Reaches New 52-Week High at $56.66

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

Analyst Ratings Changes

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

Navios Maritime Partners Stock Up 1.1 %

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

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

Navios Maritime Partners Dividend Announcement

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

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently added to or reduced their stakes in NMM. Jump Financial LLC boosted its holdings in Navios Maritime Partners by 135.5% in the fourth 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 during the last quarter. Westhampton Capital LLC purchased a new stake in Navios Maritime Partners in the first quarter valued at $241,000. Commonwealth Equity Services LLC boosted its holdings in Navios Maritime Partners by 11.2% in the first quarter. Commonwealth Equity Services LLC now owns 129,538 shares of the shipping company’s stock valued at $5,521,000 after purchasing an additional 13,037 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings 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 valued at $53,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Acadian Asset Management LLC purchased 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.

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.