SG Americas Securities LLC bought a new position in shares of Diana Shipping Inc. (NYSE:DSX – Get Rating) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 103,330 shares of the shipping company’s stock, valued at approximately $558,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Diana Shipping during the fourth quarter valued at $42,000. Vestmark Advisory Solutions Inc. grew its holdings in shares of Diana Shipping by 11.1% during the first quarter. Vestmark Advisory Solutions Inc. now owns 53,465 shares of the shipping company’s stock valued at $289,000 after buying an additional 5,348 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Diana Shipping during the fourth quarter valued at $51,000. Navellier & Associates Inc. grew its holdings in shares of Diana Shipping by 5.1% during the fourth quarter. Navellier & Associates Inc. now owns 71,688 shares of the shipping company’s stock valued at $279,000 after buying an additional 3,456 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Diana Shipping by 167.3% during the fourth quarter. First Eagle Investment Management LLC now owns 88,666 shares of the shipping company’s stock valued at $345,000 after buying an additional 55,500 shares in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.
Diana Shipping Stock Performance
DSX opened at $6.21 on Friday. The company has a market cap of $568.43 million, a PE ratio of 4.53 and a beta of 1.13. The stock has a 50-day moving average of $5.23 and a 200-day moving average of $4.92. Diana Shipping Inc. has a 52-week low of $3.31 and a 52-week high of $6.89. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.84 and a current ratio of 1.93.
Diana Shipping (NYSE:DSX – Get Rating) last released its quarterly earnings results on Tuesday, May 24th. The shipping company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $64.22 million during the quarter, compared to the consensus estimate of $64.14 million. Diana Shipping had a return on equity of 25.03% and a net margin of 44.08%. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities research analysts forecast that Diana Shipping Inc. will post 1.53 earnings per share for the current fiscal year.
Diana Shipping Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 17.71%. The ex-dividend date of this dividend is Friday, August 5th. This is a boost from Diana Shipping’s previous quarterly dividend of $0.10. Diana Shipping’s payout ratio is currently 72.99%.
Analyst Ratings Changes
A number of research analysts have commented on the company. Clarkson Capital restated a “buy” rating on shares of Diana Shipping in a research note on Tuesday, June 14th. Stifel Nicolaus lowered their target price on Diana Shipping from $8.00 to $7.00 in a research note on Tuesday, July 19th. StockNews.com upgraded Diana Shipping from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group assumed coverage on Diana Shipping in a research note on Wednesday, July 20th. They issued a “buy” rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.83.
About Diana Shipping
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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