Navios Maritime Partners (NYSE:NMM) Sets New 12-Month High – Here’s What Happened

Navios Maritime Partners LP (NYSE:NMM) hit a new 52-week high on Friday . The company traded as high as $58.35 and last traded at $57.8370, with a volume of 30393 shares. The stock had previously closed at $56.62.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NMM shares. Wall Street Zen raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Navios Maritime Partners Stock Performance

The stock has a market cap of $1.71 billion, a P/E ratio of 6.58 and a beta of 1.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $53.51 and a 200 day simple moving average of $48.33.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.28. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The firm had revenue of $346.92 million during the quarter, compared to the consensus estimate of $334.64 million. During the same period in the prior year, the company posted $3.15 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts expect that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, November 10th. Navios Maritime Partners’s dividend payout ratio is presently 2.29%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter worth approximately $47,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Navios Maritime Partners in the 2nd quarter valued at $62,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners in the 2nd quarter valued at $212,000. Aristides Capital LLC bought a new position in shares of Navios Maritime Partners in the 2nd quarter valued at $228,000. Finally, Blackhawk Capital Partners LLC acquired a new position in shares of Navios Maritime Partners during the 3rd quarter worth $247,000. Institutional investors own 62.74% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.