Genco Shipping & Trading Limited $GNK Holdings Lifted by CSM Advisors LLC

CSM Advisors LLC boosted its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 351,045 shares of the shipping company’s stock after buying an additional 54,575 shares during the period. CSM Advisors LLC owned approximately 0.81% of Genco Shipping & Trading worth $6,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. acquired a new position in Genco Shipping & Trading in the 2nd quarter valued at approximately $255,000. American Century Companies Inc. boosted its stake in shares of Genco Shipping & Trading by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 1,549,197 shares of the shipping company’s stock valued at $20,248,000 after buying an additional 86,317 shares during the period. Citigroup Inc. grew its holdings in shares of Genco Shipping & Trading by 727.6% during the 3rd quarter. Citigroup Inc. now owns 215,412 shares of the shipping company’s stock valued at $3,834,000 after acquiring an additional 189,383 shares in the last quarter. Creative Planning grew its holdings in shares of Genco Shipping & Trading by 147.9% during the 2nd quarter. Creative Planning now owns 49,141 shares of the shipping company’s stock valued at $642,000 after acquiring an additional 29,321 shares in the last quarter. Finally, AXQ Capital LP increased its stake in shares of Genco Shipping & Trading by 39.5% in the second quarter. AXQ Capital LP now owns 23,870 shares of the shipping company’s stock worth $312,000 after acquiring an additional 6,758 shares during the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GNK. Wall Street Zen downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Zacks Research raised Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Alliance Global Partners downgraded Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $21.00.

Genco Shipping & Trading Stock Down 0.1%

Shares of Genco Shipping & Trading stock opened at $19.75 on Monday. The stock has a market capitalization of $855.53 million, a P/E ratio of -179.52, a PEG ratio of 4.52 and a beta of 1.14. The company has a quick ratio of 1.84, a current ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $21.21 and a two-hundred day moving average price of $18.95. Genco Shipping & Trading Limited has a 12-month low of $11.20 and a 12-month high of $24.81.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Genco Shipping & Trading had a negative net margin of 1.28% and a negative return on equity of 0.12%. The company had revenue of $109.92 million for the quarter, compared to analyst estimates of $78.52 million. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 10.1%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 11th. Genco Shipping & Trading’s dividend payout ratio is currently -1,818.18%.

Insider Buying and Selling at Genco Shipping & Trading

In other news, insider Jesper Christensen sold 18,450 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $23.66, for a total value of $436,527.00. Following the sale, the insider directly owned 98,299 shares of the company’s stock, valued at approximately $2,325,754.34. This trade represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter George Allen sold 13,315 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $23.66, for a total value of $315,032.90. Following the transaction, the chief financial officer directly owned 66,702 shares of the company’s stock, valued at $1,578,169.32. This represents a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,824 shares of company stock worth $1,313,949 over the last ninety days. Company insiders own 2.08% of the company’s stock.

Genco Shipping & Trading Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.