Robeco Institutional Asset Management B.V. Invests $869,000 in Genco Shipping & Trading Limited (NYSE:GNK)

Robeco Institutional Asset Management B.V. bought a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 65,080 shares of the shipping company’s stock, valued at approximately $869,000.

A number of other institutional investors also recently modified their holdings of GNK. Raymond James Financial Inc. bought a new stake in Genco Shipping & Trading during the fourth quarter worth $332,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Genco Shipping & Trading by 51.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,355 shares of the shipping company’s stock valued at $911,000 after purchasing an additional 22,316 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Genco Shipping & Trading by 36.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,852 shares of the shipping company’s stock valued at $1,782,000 after purchasing an additional 33,949 shares during the period. Man Group plc bought a new position in Genco Shipping & Trading in the 4th quarter valued at $631,000. Finally, BNP Paribas Financial Markets grew its stake in Genco Shipping & Trading by 81.1% in the 4th quarter. BNP Paribas Financial Markets now owns 46,130 shares of the shipping company’s stock valued at $643,000 after purchasing an additional 20,661 shares during the period. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK opened at $13.81 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $593.28 million, a PE ratio of 13.28, a P/E/G ratio of 15.01 and a beta of 1.18. Genco Shipping & Trading Limited has a twelve month low of $11.20 and a twelve month high of $22.18. The company has a 50-day moving average price of $13.48 and a two-hundred day moving average price of $13.70.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $41.64 million for the quarter, compared to the consensus estimate of $43.49 million. Genco Shipping & Trading had a return on equity of 4.22% and a net margin of 12.12%. Genco Shipping & Trading’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. Equities analysts forecast that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were given a dividend of $0.15 per share. The ex-dividend date was Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading’s dividend payout ratio is presently 57.69%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Dnb Nor Markets upgraded Genco Shipping & Trading to a “strong-buy” rating in a research note on Thursday, May 1st. Pareto Securities upgraded Genco Shipping & Trading to a “strong-buy” rating in a research note on Monday, March 31st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $17.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.67.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.