Mraz Amerine & Associates Inc. Purchases 6,810 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Mraz Amerine & Associates Inc. lifted its position in Genco Shipping & Trading Limited (NYSE:GNK) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,551 shares of the shipping company’s stock after acquiring an additional 6,810 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Genco Shipping & Trading were worth $1,552,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates bought a new position in Genco Shipping & Trading during the first quarter valued at about $276,000. Bank of New York Mellon Corp grew its position in Genco Shipping & Trading by 17.1% during the first quarter. Bank of New York Mellon Corp now owns 173,010 shares of the shipping company’s stock valued at $4,085,000 after buying an additional 25,300 shares during the period. Acadian Asset Management LLC bought a new position in Genco Shipping & Trading during the first quarter valued at about $26,000. LSV Asset Management grew its position in Genco Shipping & Trading by 85.9% during the first quarter. LSV Asset Management now owns 100,900 shares of the shipping company’s stock valued at $2,383,000 after buying an additional 46,632 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Genco Shipping & Trading by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,916,725 shares of the shipping company’s stock valued at $45,272,000 after buying an additional 164,117 shares during the period. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock traded down $0.13 on Wednesday, reaching $20.26. The stock had a trading volume of 402,150 shares, compared to its average volume of 737,452. The company has a current ratio of 4.46, a quick ratio of 3.70 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $19.83 and its two-hundred day moving average is $16.87. The company has a market cap of $865.71 million, a P/E ratio of -65.35 and a beta of 1.18. Genco Shipping & Trading Limited has a 1 year low of $12.39 and a 1 year high of $21.24.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, February 21st. The shipping company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $115.50 million for the quarter, compared to analysts’ expectations of $72.54 million. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. Genco Shipping & Trading’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. As a group, research analysts anticipate that Genco Shipping & Trading Limited will post 1.9 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.41 per share. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $1.64 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date of this dividend was Tuesday, March 5th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently -529.03%.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CFO Peter George Allen sold 7,036 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $139,312.80. Following the transaction, the chief financial officer now directly owns 35,518 shares in the company, valued at $703,256.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Genco Shipping & Trading news, CFO Peter George Allen sold 7,036 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $139,312.80. Following the transaction, the chief financial officer now directly owns 35,518 shares in the company, valued at $703,256.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Joseph Adamo sold 1,396 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.40, for a total transaction of $28,478.40. Following the transaction, the chief accounting officer now owns 17,994 shares in the company, valued at $367,077.60. The disclosure for this sale can be found here. Insiders have sold 62,496 shares of company stock worth $1,238,678 over the last ninety days. Insiders own 2.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GNK shares. BTIG Research restated a “neutral” rating on shares of Genco Shipping & Trading in a research report on Friday, January 5th. StockNews.com downgraded shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Sunday, April 7th. Finally, TheStreet raised shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Genco Shipping & Trading presently has an average rating of “Hold” and a consensus price target of $20.67.

Genco Shipping & Trading Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.