Seanergy Maritime Holdings Corp (SHIP) To Go Ex-Dividend on September 25th

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, September 25th will be paid a dividend of 0.35 per share by the shipping company on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, September 25th. This is a 75.0% increase from Seanergy Maritime’s previous quarterly dividend of $0.20.

Seanergy Maritime has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Seanergy Maritime to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 89.2%.

Seanergy Maritime Stock Down 3.9%

NASDAQ:SHIP opened at $17.83 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.94. Seanergy Maritime has a twelve month low of $7.66 and a twelve month high of $19.22. The company has a market cap of $372.65 million, a PE ratio of 6.23 and a beta of 0.89. The company’s 50 day moving average is $17.18 and its two-hundred day moving average is $15.43.

Seanergy Maritime (NASDAQ:SHIP) last released its earnings results on Thursday, July 30th. The shipping company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. The firm had revenue of $55.69 million for the quarter, compared to the consensus estimate of $53.90 million. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%. Analysts anticipate that Seanergy Maritime will post 3.16 EPS for the current year.

Insider Buying and Selling

In other news, Director Christina Anagnostara sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.19, for a total transaction of $257,850.00. Following the sale, the director owned 178,239 shares of the company’s stock, valued at $3,063,928.41. This trade represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of Seanergy Maritime

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Seanergy Maritime by 15.8% during the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock worth $8,421,000 after acquiring an additional 88,800 shares in the last quarter. R Squared Ltd boosted its position in Seanergy Maritime by 59.3% during the first quarter. R Squared Ltd now owns 29,062 shares of the shipping company’s stock worth $375,000 after purchasing an additional 10,816 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Seanergy Maritime in the second quarter valued at approximately $289,000. Navellier & Associates Inc. purchased a new stake in shares of Seanergy Maritime in the second quarter valued at approximately $355,000. Finally, Bank of America Corp DE increased its position in shares of Seanergy Maritime by 5.8% in the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock valued at $2,065,000 after buying an additional 8,800 shares in the last quarter. 29.36% of the stock is owned by hedge funds and other institutional investors.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. is an international dry bulk shipping company listed on the Nasdaq Capital Market under the symbol SHIP. The company owns and operates oceangoing vessels that transport major dry bulk commodities for industrial and commercial customers worldwide.

Seanergy’s fleet is focused primarily on Capesize and Newcastlemax vessels, which are among the largest dry bulk ships and are commonly used to carry iron ore, coal, and grain. The company generates revenue by chartering its vessels to customers and shipping counterparties under various types of charter arrangements.

Founded in 2008, Seanergy is headquartered in Athens, Greece, and serves global trade routes connecting major commodity-exporting and importing regions.