CMB.TECH (NYSE:CMBT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of CMB.TECH (NYSE:CMBT) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded CMB.TECH from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Buy”.

CMB.TECH Stock Down 3.8%

Shares of CMBT stock opened at $17.25 on Friday. The company’s fifty day moving average price is $18.83 and its 200-day moving average price is $16.15. CMB.TECH has a one year low of $9.03 and a one year high of $21.19. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 5.93 and a beta of 0.23. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.12 and a quick ratio of 0.97.

CMB.TECH (NYSE:CMBT) last issued its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share for the quarter. CMB.TECH had a net margin of 37.19% and a return on equity of 30.02%. The firm had revenue of $703.94 million during the quarter.

CMB.TECH Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Friday, October 16th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, October 16th. CMB.TECH’s dividend payout ratio (DPR) is presently 12.03%.

Hedge Funds Weigh In On CMB.TECH

Several institutional investors and hedge funds have recently modified their holdings of CMBT. Encompass Capital Advisors LLC boosted its stake in shares of CMB.TECH by 40.0% in the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock worth $44,275,000 after buying an additional 1,000,693 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in CMB.TECH during the first quarter valued at approximately $28,965,000. Renaissance Technologies LLC lifted its holdings in CMB.TECH by 288.5% in the first quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the period. Bank of America Corp DE lifted its holdings in CMB.TECH by 526.9% in the first quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock valued at $13,571,000 after acquiring an additional 901,688 shares during the period. Finally, Fearnley Asset Management AS acquired a new position in CMB.TECH in the fourth quarter valued at approximately $10,284,000.

About CMB.TECH

CMB.TECH is a diversified maritime and cleantech company headquartered in Antwerp, Belgium. The company develops, owns and operates commercial vessels and is focused on reducing emissions in shipping through the use of alternative fuels and related technologies, including hydrogen and ammonia.

Its maritime activities include dry bulk carriers, container ships, chemical tankers, offshore wind service vessels and other specialized vessels. CMB.TECH also provides hydrogen and ammonia fuel solutions, including the development of dual-fuel vessels, fuel infrastructure and related applications for the maritime, industrial and transportation sectors.

The company serves international customers and operates across global shipping markets.