CSM Advisors LLC Has $6.25 Million Holdings in Genco Shipping & Trading Limited $GNK

CSM Advisors LLC grew its stake in Genco Shipping & Trading Limited (NYSE:GNK) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,045 shares of the shipping company’s stock after purchasing an additional 54,575 shares during the period. CSM Advisors LLC’s holdings in Genco Shipping & Trading were worth $6,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new position in shares of Genco Shipping & Trading during the third quarter valued at about $30,000. PNC Financial Services Group Inc. grew its position in Genco Shipping & Trading by 82.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,942 shares of the shipping company’s stock worth $25,000 after buying an additional 876 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Genco Shipping & Trading during the third quarter worth about $40,000. CWM LLC increased its stake in Genco Shipping & Trading by 61.4% during the third quarter. CWM LLC now owns 2,843 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,082 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Genco Shipping & Trading by 230.6% during the second quarter. Russell Investments Group Ltd. now owns 4,618 shares of the shipping company’s stock valued at $60,000 after acquiring an additional 3,221 shares during the period. Institutional investors own 58.62% of the company’s stock.

Insider Transactions at Genco Shipping & Trading

In related news, insider Jesper Christensen sold 18,450 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $23.66, for a total transaction of $436,527.00. Following the completion of the sale, the insider directly owned 98,299 shares of the company’s stock, valued at $2,325,754.34. This trade represents a 15.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Peter George Allen sold 13,315 shares of Genco Shipping & Trading stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $23.66, for a total value of $315,032.90. Following the completion of the transaction, the chief financial officer owned 66,702 shares of the company’s stock, valued at approximately $1,578,169.32. The trade was a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,824 shares of company stock valued at $1,313,949 in the last three months. 2.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GNK has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Monday, December 29th. Wall Street Zen cut Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Alliance Global Partners lowered Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research note on Thursday, February 19th. Finally, Zacks Research raised Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $21.00.

Genco Shipping & Trading Trading Down 0.1%

Shares of GNK opened at $19.75 on Monday. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $24.81. The company has a current ratio of 2.39, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $21.21 and a 200-day simple moving average of $18.95. The stock has a market cap of $855.53 million, a PE ratio of -179.52, a PEG ratio of 4.52 and a beta of 1.14.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Genco Shipping & Trading had a negative return on equity of 0.12% and a negative net margin of 1.28%.The business had revenue of $109.92 million for the quarter, compared to analyst estimates of $78.52 million. During the same quarter in the previous year, the firm earned $0.29 EPS. Genco Shipping & Trading’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.1%. This is an increase 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 presently -1,818.18%.

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.