Martingale Asset Management L P Raises Stock Holdings in Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

Martingale Asset Management L P boosted its stake in Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,316 shares of the shipping company’s stock after acquiring an additional 610 shares during the period. Martingale Asset Management L P owned 0.06% of Eagle Bulk Shipping worth $432,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EGLE. SeaCrest Wealth Management LLC bought a new stake in Eagle Bulk Shipping in the second quarter valued at $29,000. Edmond DE Rothschild Holding S.A. bought a new stake in Eagle Bulk Shipping in the first quarter valued at $31,000. Worth Asset Management LLC bought a new stake in Eagle Bulk Shipping in the first quarter valued at $35,000. New York State Teachers Retirement System bought a new stake in Eagle Bulk Shipping in the second quarter valued at $42,000. Finally, US Bancorp DE boosted its holdings in Eagle Bulk Shipping by 4,220.8% in the second quarter. US Bancorp DE now owns 1,037 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 1,013 shares in the last quarter. Institutional investors own 86.73% of the company’s stock.

Eagle Bulk Shipping Price Performance

EGLE opened at $51.73 on Wednesday. The stock has a 50-day moving average price of $48.33 and a 200-day moving average price of $52.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.06 and a quick ratio of 1.87. The firm has a market cap of $707.72 million, a PE ratio of 2.69 and a beta of 1.31. Eagle Bulk Shipping Inc. has a 1 year low of $37.05 and a 1 year high of $78.75.

Eagle Bulk Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Tuesday, November 15th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 13.92%. The ex-dividend date of this dividend is Monday, November 14th. Eagle Bulk Shipping’s dividend payout ratio is presently 37.48%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EGLE. StockNews.com began coverage on shares of Eagle Bulk Shipping in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Stifel Nicolaus began coverage on shares of Eagle Bulk Shipping in a report on Thursday, September 29th. They set a “buy” rating and a $62.00 target price on the stock. Alliance Global Partners began coverage on shares of Eagle Bulk Shipping in a report on Wednesday, August 3rd. They set a “buy” rating and a $85.00 target price on the stock. Noble Financial restated a “buy” rating and set a $84.00 target price on shares of Eagle Bulk Shipping in a report on Monday, November 7th. Finally, Jefferies Financial Group dropped their target price on shares of Eagle Bulk Shipping from $64.00 to $60.00 in a report on Monday, September 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eagle Bulk Shipping presently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Eagle Bulk Shipping Company Profile

(Get Rating)

Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.

See Also

Institutional Ownership by Quarter for Eagle Bulk Shipping (NASDAQ:EGLE)

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