Fifth Third Bancorp bought a new position in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 742 shares of the shipping company’s stock, valued at approximately $51,000.
Several other institutional investors have also recently made changes to their positions in EGLE. Williams Jones Wealth Management LLC. acquired a new stake in shares of Eagle Bulk Shipping during the 4th quarter worth about $243,000. American International Group Inc. grew its holdings in Eagle Bulk Shipping by 4.8% during the 3rd quarter. American International Group Inc. now owns 4,891 shares of the shipping company’s stock worth $247,000 after acquiring an additional 222 shares during the last quarter. Sigma Planning Corp bought a new stake in Eagle Bulk Shipping during the 4th quarter worth about $276,000. Bailard Inc. grew its holdings in Eagle Bulk Shipping by 44.4% during the 4th quarter. Bailard Inc. now owns 6,500 shares of the shipping company’s stock worth $296,000 after acquiring an additional 2,000 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in Eagle Bulk Shipping during the 1st quarter worth about $581,000. Institutional investors and hedge funds own 72.13% of the company’s stock.
Eagle Bulk Shipping stock opened at $44.75 on Monday. The company’s 50 day simple moving average is $61.63 and its 200 day simple moving average is $57.33. Eagle Bulk Shipping Inc. has a fifty-two week low of $36.18 and a fifty-two week high of $78.75. The firm has a market capitalization of $612.76 million, a price-to-earnings ratio of 3.12 and a beta of 1.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.16.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.01. Eagle Bulk Shipping had a net margin of 33.43% and a return on equity of 40.41%. The business had revenue of $140.77 million for the quarter, compared to analyst estimates of $134.93 million. During the same quarter last year, the firm earned $0.84 EPS. As a group, analysts predict that Eagle Bulk Shipping Inc. will post 18.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Monday, May 16th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 17.88%. The ex-dividend date was Friday, May 13th. Eagle Bulk Shipping’s payout ratio is 55.83%.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 29,441 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $67.66, for a total transaction of $1,991,978.06. Following the sale, the chief executive officer now directly owns 167,686 shares in the company, valued at approximately $11,345,634.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Costanzo Frank De sold 3,022 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $78.06, for a total transaction of $235,897.32. Following the sale, the chief financial officer now owns 52,323 shares in the company, valued at $4,084,333.38. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
EGLE has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Eagle Bulk Shipping in a report on Wednesday, April 27th. They set a “buy” rating on the stock. StockNews.com raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. Clarkson Capital reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a research note on Tuesday, June 14th. Finally, HC Wainwright raised their target price on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a research note on Monday, May 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $73.67.
Eagle Bulk Shipping Profile (Get Rating)
Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.
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