Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 265,500 shares, a growth of 28.2% from the March 15th total of 207,100 shares. Based on an average daily trading volume, of 0 shares, the short-interest ratio is presently ∞ days.
Shares of NASDAQ:GRIN traded up $1.52 on Monday, reaching $26.30. The company had a trading volume of 8,482 shares, compared to its average volume of 461,921. Grindrod Shipping has a twelve month low of $6.99 and a twelve month high of $28.47. The stock has a 50-day moving average price of $23.31 and a 200 day moving average price of $18.18. The stock has a market capitalization of $506.28 million, a P/E ratio of 4.14 and a beta of 0.86. The company has a quick ratio of 1.47, a current ratio of 1.61 and a debt-to-equity ratio of 0.70.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last posted its quarterly earnings data on Wednesday, February 16th. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.25. Grindrod Shipping had a return on equity of 41.13% and a net margin of 23.38%. The business had revenue of $114.86 million during the quarter, compared to analysts’ expectations of $118.51 million. On average, sell-side analysts predict that Grindrod Shipping will post 5.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Investors of record on Friday, March 11th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $2.88 annualized dividend and a dividend yield of 10.95%. Grindrod Shipping’s dividend payout ratio is presently 48.16%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP acquired a new position in shares of Grindrod Shipping during the 3rd quarter worth about $378,000. Trexquant Investment LP acquired a new position in shares of Grindrod Shipping during the 3rd quarter worth about $212,000. Advisor Group Holdings Inc. acquired a new position in shares of Grindrod Shipping during the 3rd quarter worth about $52,000. Marshall Wace LLP acquired a new position in shares of Grindrod Shipping during the 3rd quarter worth about $5,475,000. Finally, Dorsey Wright & Associates acquired a new position in Grindrod Shipping in the 4th quarter valued at approximately $66,000. 38.87% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research report on Wednesday, February 23rd.
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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