Steward Partners Investment Advisory LLC Grows Stock Holdings in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)

Steward Partners Investment Advisory LLC increased its stake in shares of Grindrod Shipping Holdings Ltd. (NASDAQ:GRINGet Rating) by 14.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,058 shares of the company’s stock after buying an additional 3,420 shares during the quarter. Steward Partners Investment Advisory LLC owned about 0.14% of Grindrod Shipping worth $464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AE Wealth Management LLC purchased a new position in shares of Grindrod Shipping during the second quarter worth about $330,000. Spire Wealth Management purchased a new position in shares of Grindrod Shipping during the second quarter worth about $94,000. Ritholtz Wealth Management purchased a new position in shares of Grindrod Shipping during the second quarter worth about $385,000. Private Advisor Group LLC grew its holdings in shares of Grindrod Shipping by 32.5% during the second quarter. Private Advisor Group LLC now owns 49,848 shares of the company’s stock worth $855,000 after buying an additional 12,217 shares during the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Grindrod Shipping during the first quarter worth about $285,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Grindrod Shipping Price Performance

Shares of NASDAQ:GRIN opened at $25.93 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.92 and a debt-to-equity ratio of 0.45. The company has a market cap of $499.15 million, a P/E ratio of 2.79 and a beta of 0.75. Grindrod Shipping Holdings Ltd. has a 52 week low of $13.11 and a 52 week high of $28.98. The company has a 50-day moving average price of $24.63 and a 200 day moving average price of $22.41.

Grindrod Shipping (NASDAQ:GRINGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $2.74 EPS for the quarter. The firm had revenue of $138.87 million during the quarter. Grindrod Shipping had a net margin of 33.23% and a return on equity of 54.81%. During the same quarter in the previous year, the business earned $1.01 EPS.

Grindrod Shipping Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, December 5th. Stockholders of record on Friday, November 25th will be given a dividend of $5.00 per share. The ex-dividend date is Wednesday, November 23rd. Grindrod Shipping’s payout ratio is 36.17%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GRIN. Alliance Global Partners lowered Grindrod Shipping from a “buy” rating to a “neutral” rating in a report on Thursday, October 13th. Noble Financial downgraded shares of Grindrod Shipping from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 13th.

About Grindrod Shipping

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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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Institutional Ownership by Quarter for Grindrod Shipping (NASDAQ:GRIN)

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