Navios Maritime Partners (NYSE:NMM) Reaches New 52-Week High – Here’s What Happened

Navios Maritime Partners LP (NYSE:NMM)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $62.01 and last traded at $61.84, with a volume of 132159 shares. The stock had previously closed at $60.22.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reiterated 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 MarketBeat.com, Navios Maritime Partners presently has a consensus rating of “Hold”.

Navios Maritime Partners Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 7.08 and a beta of 1.38. The stock has a 50-day moving average price of $54.96 and a 200 day moving average price of $49.90.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $334.64 million. During the same period in the prior year, the business earned $3.15 EPS. Navios Maritime Partners’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Investors of record on Monday, February 9th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is presently 2.29%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors have recently modified their holdings of NMM. Allworth Financial LP bought a new position in shares of Navios Maritime Partners during the second quarter worth about $47,000. TD Waterhouse Canada Inc. bought a new position in shares of Navios Maritime Partners during the 2nd quarter worth approximately $62,000. Blackhawk Capital Partners LLC acquired a new stake in shares of Navios Maritime Partners in the third quarter valued at approximately $247,000. Cerity Partners LLC bought a new stake in shares of Navios Maritime Partners in the second quarter worth $212,000. Finally, Aristides Capital LLC acquired a new position in Navios Maritime Partners during the second quarter worth $228,000. 62.74% of the stock is currently owned by institutional investors.

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.