Strs Ohio Makes New Investment in Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

Strs Ohio bought a new position in Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 900 shares of the shipping company’s stock, valued at approximately $38,000.

Other large investors have also bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in Eagle Bulk Shipping in the second quarter worth $201,000. Driehaus Capital Management LLC purchased a new stake in Eagle Bulk Shipping in the second quarter worth $3,031,000. Principal Financial Group Inc. purchased a new stake in Eagle Bulk Shipping in the second quarter worth $756,000. New York State Teachers Retirement System purchased a new stake in Eagle Bulk Shipping in the second quarter worth $42,000. Finally, Royce & Associates LP increased its position in Eagle Bulk Shipping by 15.8% in the second quarter. Royce & Associates LP now owns 94,254 shares of the shipping company’s stock worth $4,890,000 after buying an additional 12,826 shares during the last quarter. 79.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. B. Riley cut their price target on Eagle Bulk Shipping from $82.00 to $72.00 and set a “buy” rating for the company in a report on Monday, October 10th. Noble Financial reaffirmed a “buy” rating and issued a $84.00 price target on shares of Eagle Bulk Shipping in a report on Monday, November 7th. StockNews.com assumed coverage on Eagle Bulk Shipping in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Stifel Nicolaus assumed coverage on Eagle Bulk Shipping in a report on Thursday, September 29th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Jefferies Financial Group dropped their price objective on Eagle Bulk Shipping from $64.00 to $60.00 in a research note on Monday, September 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Eagle Bulk Shipping Price Performance

NASDAQ:EGLE opened at $54.66 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.87 and a current ratio of 2.06. The stock has a fifty day moving average of $50.76 and a 200 day moving average of $49.02. Eagle Bulk Shipping Inc. has a 52-week low of $38.10 and a 52-week high of $78.75. The firm has a market capitalization of $747.80 million, a price-to-earnings ratio of 2.85 and a beta of 1.32.

Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The shipping company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.31 by $0.27. Eagle Bulk Shipping had a return on equity of 39.29% and a net margin of 41.46%. The firm had revenue of $144.52 million during the quarter, compared to analyst estimates of $136.83 million. On average, research analysts expect that Eagle Bulk Shipping Inc. will post 16.07 EPS for the current fiscal year.

Eagle Bulk Shipping Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Tuesday, November 15th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 13.17%. The ex-dividend date of this dividend was Monday, November 14th. Eagle Bulk Shipping’s dividend payout ratio (DPR) is currently 37.48%.

Insiders Place Their Bets

In other Eagle Bulk Shipping news, CEO Gary Vogel sold 15,000 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $50.79, for a total transaction of $761,850.00. Following the completion of the sale, the chief executive officer now owns 147,521 shares of the company’s stock, valued at $7,492,591.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

About Eagle Bulk Shipping

(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.

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

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