Envestnet Asset Management Inc. cut its holdings in Diana Shipping Inc. (NYSE:DSX – Get Rating) by 11.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,112 shares of the shipping company’s stock after selling 22,491 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of Diana Shipping worth $902,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of DSX. Allspring Global Investments Holdings LLC acquired a new stake in Diana Shipping during the first quarter worth about $160,000. SG Americas Securities LLC acquired a new stake in Diana Shipping during the first quarter worth about $558,000. TownSquare Capital LLC grew its stake in Diana Shipping by 36.7% during the first quarter. TownSquare Capital LLC now owns 61,676 shares of the shipping company’s stock worth $333,000 after buying an additional 16,565 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Diana Shipping by 11.1% during the first quarter. Vestmark Advisory Solutions Inc. now owns 53,465 shares of the shipping company’s stock worth $289,000 after buying an additional 5,348 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC grew its stake in Diana Shipping by 140.2% during the first quarter. Counterpoint Mutual Funds LLC now owns 16,248 shares of the shipping company’s stock worth $88,000 after buying an additional 9,484 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
DSX has been the topic of a number of analyst reports. Clarkson Capital reiterated a “buy” rating on shares of Diana Shipping in a research note on Tuesday, June 14th. Jefferies Financial Group assumed coverage on shares of Diana Shipping in a report on Wednesday, July 20th. They issued a “buy” rating and a $7.00 target price for the company. Stifel Nicolaus dropped their target price on shares of Diana Shipping from $8.00 to $7.00 in a report on Tuesday, July 19th. Finally, StockNews.com raised shares of Diana Shipping from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.83.
Diana Shipping Stock Down 2.0 %
Shares of NYSE DSX opened at $5.30 on Friday. The company has a 50 day simple moving average of $5.15 and a 200 day simple moving average of $5.12. The firm has a market cap of $456.86 million, a PE ratio of 3.87 and a beta of 1.13. Diana Shipping Inc. has a 1 year low of $3.31 and a 1 year high of $6.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.81 and a quick ratio of 1.73.
Diana Shipping (NYSE:DSX – Get Rating) last issued its quarterly earnings data on Tuesday, May 24th. The shipping company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $64.22 million during the quarter, compared to analyst estimates of $64.14 million. Diana Shipping had a net margin of 44.08% and a return on equity of 25.03%. During the same quarter last year, the business earned ($0.03) EPS. On average, research analysts forecast that Diana Shipping Inc. will post 1.48 EPS for the current year.
Diana Shipping Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 20.75%. The ex-dividend date of this dividend was Friday, August 5th. This is a positive change from Diana Shipping’s previous quarterly dividend of $0.10. Diana Shipping’s dividend payout ratio (DPR) is 80.29%.
Diana Shipping Profile
Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of April 13, 2022, it operated a fleet of 35 dry bulk vessels, including 4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax, and 8 Panamax.
Further Reading
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