Shares of DryShips Inc. (NASDAQ:DRYS) rose 0% during mid-day trading on Friday . The stock traded as high as $4.00 and last traded at $3.94. Approximately 2,528,854 shares were traded during mid-day trading, an increase of 62% from the average daily volume of 1,559,095 shares. The stock had previously closed at $3.94.
DRYS has been the topic of several research analyst reports. ValuEngine upgraded shares of DryShips from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. BidaskClub lowered shares of DryShips from a “hold” rating to a “sell” rating in a report on Thursday, December 21st.
The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.30.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th were given a $0.024 dividend. This represents a $0.10 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, February 16th. DryShips’s dividend payout ratio is currently -0.05%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in DryShips in the 4th quarter valued at about $777,000. Deutsche Bank AG grew its position in DryShips by 3,145.4% in the 4th quarter. Deutsche Bank AG now owns 75,424 shares of the shipping company’s stock valued at $266,000 after acquiring an additional 73,100 shares in the last quarter. Centenus Global Management LP acquired a new position in DryShips in the 4th quarter valued at about $275,000. Covalis Capital LLP acquired a new position in DryShips in the 4th quarter valued at about $136,000. Finally, Sei Investments Co. acquired a new position in DryShips in the 3rd quarter valued at about $200,000. 3.17% of the stock is owned by institutional investors.
DryShips, Inc is a holding company. The Company owns drybulk carriers and offshore support vessels. The Company operates through two segments: the drybulk carrier and the offshore support. Under its drybulk segment, the Company operates as a provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries.
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