SG Americas Securities LLC trimmed its holdings in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,390 shares of the shipping company’s stock after selling 254 shares during the period. SG Americas Securities LLC’s holdings in Eagle Bulk Shipping were worth $163,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of EGLE. CHURCHILL MANAGEMENT Corp acquired a new stake in Eagle Bulk Shipping during the 1st quarter valued at approximately $12,815,000. Acadian Asset Management LLC lifted its stake in shares of Eagle Bulk Shipping by 139.0% in the 4th quarter. Acadian Asset Management LLC now owns 138,966 shares of the shipping company’s stock valued at $6,322,000 after purchasing an additional 80,817 shares during the period. Relyea Zuckerberg Hanson LLC lifted its stake in shares of Eagle Bulk Shipping by 30.2% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 144,991 shares of the shipping company’s stock valued at $9,198,000 after purchasing an additional 33,643 shares during the period. Public Sector Pension Investment Board acquired a new position in shares of Eagle Bulk Shipping in the 4th quarter valued at $1,502,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Eagle Bulk Shipping in the 4th quarter valued at $722,000. 72.13% of the stock is currently owned by institutional investors and hedge funds.
Eagle Bulk Shipping Price Performance
Eagle Bulk Shipping stock opened at $55.08 on Friday. Eagle Bulk Shipping Inc. has a 52-week low of $36.21 and a 52-week high of $78.75. The firm has a market capitalization of $754.21 million, a price-to-earnings ratio of 2.85 and a beta of 1.35. The company has a fifty day simple moving average of $53.62 and a 200-day simple moving average of $58.27. The company has a quick ratio of 1.16, a current ratio of 1.79 and a debt-to-equity ratio of 0.42.
Eagle Bulk Shipping Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Tuesday, August 16th will be issued a dividend of $2.20 per share. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, August 15th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 15.98%. Eagle Bulk Shipping’s dividend payout ratio is presently 41.32%.
Insider Transactions at Eagle Bulk Shipping
In other news, CFO Costanzo Frank De sold 3,022 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $78.06, for a total transaction of $235,897.32. Following the completion of the sale, the chief financial officer now owns 52,323 shares of the company’s stock, valued at $4,084,333.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on EGLE shares. Jefferies Financial Group started coverage on shares of Eagle Bulk Shipping in a research note on Wednesday, July 20th. They issued a “buy” rating and a $64.00 target price for the company. Alliance Global Partners assumed coverage on shares of Eagle Bulk Shipping in a research note on Wednesday, August 3rd. They issued a “buy” rating and a $85.00 target price for the company. HC Wainwright upped their price objective on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a research report on Monday, May 9th. StockNews.com cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Clarkson Capital restated a “buy” rating on shares of Eagle Bulk Shipping in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.00.
Eagle Bulk Shipping Company Profile
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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