Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 402,800 shares, a growth of 41.3% from the May 15th total of 285,100 shares. Based on an average daily volume of 435,700 shares, the short-interest ratio is currently 0.9 days.
A number of research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Grindrod Shipping in a research note on Wednesday, April 27th. They set a “buy” rating and a $26.00 target price for the company. TheStreet raised shares of Grindrod Shipping from a “d+” rating to a “c+” rating in a research note on Monday, April 18th.
Several large investors have recently modified their holdings of GRIN. Morgan Stanley lifted its stake in shares of Grindrod Shipping by 254,963.6% in the 2nd quarter. Morgan Stanley now owns 56,114 shares of the company’s stock worth $611,000 after acquiring an additional 56,092 shares during the period. Advisor Group Holdings Inc. acquired a new stake in Grindrod Shipping during the third quarter valued at approximately $52,000. Goldman Sachs Group Inc. lifted its stake in Grindrod Shipping by 120.4% during the third quarter. Goldman Sachs Group Inc. now owns 38,318 shares of the company’s stock valued at $591,000 after purchasing an additional 20,935 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Grindrod Shipping by 160.2% during the third quarter. Renaissance Technologies LLC now owns 334,938 shares of the company’s stock valued at $5,165,000 after purchasing an additional 206,238 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Grindrod Shipping by 25,408.3% during the third quarter. Royal Bank of Canada now owns 15,305 shares of the company’s stock valued at $236,000 after purchasing an additional 15,245 shares during the last quarter. 32.90% of the stock is owned by institutional investors.
Grindrod Shipping stock traded down $0.34 during midday trading on Wednesday, reaching $19.93. 6,141 shares of the stock traded hands, compared to its average volume of 457,791. The company has a current ratio of 1.77, a quick ratio of 1.59 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $25.19 and a two-hundred day moving average price of $21.40. The firm has a market cap of $383.65 million, a price-to-earnings ratio of 2.75 and a beta of 0.81. Grindrod Shipping has a fifty-two week low of $9.00 and a fifty-two week high of $28.98.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last issued its quarterly earnings results on Tuesday, May 24th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. Grindrod Shipping had a net margin of 26.61% and a return on equity of 48.54%. During the same period last year, the company posted $0.12 earnings per share. Analysts anticipate that Grindrod Shipping will post 6.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Friday, June 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.43%. The ex-dividend date is Thursday, June 9th. Grindrod Shipping’s dividend payout ratio is currently 25.47%.
Grindrod Shipping Company Profile (Get Rating)
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.
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