Mraz Amerine & Associates Inc. Boosts Stake in Scorpio Bulkers Inc (NYSE:SALT)
Mraz Amerine & Associates Inc. increased its stake in shares of Scorpio Bulkers Inc (NYSE:SALT) by 26.0% in the second quarter, HoldingsChannel.com reports. The firm owned 46,800 shares of the shipping company’s stock after buying an additional 9,650 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Scorpio Bulkers were worth $215,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SALT. Campbell & CO Investment Adviser LLC purchased a new position in Scorpio Bulkers in the 2nd quarter valued at approximately $152,000. Williams Jones & Associates LLC boosted its position in Scorpio Bulkers by 47.2% in the 1st quarter. Williams Jones & Associates LLC now owns 37,450 shares of the shipping company’s stock valued at $144,000 after buying an additional 12,000 shares during the period. Geode Capital Management LLC boosted its position in Scorpio Bulkers by 19.2% in the 4th quarter. Geode Capital Management LLC now owns 203,962 shares of the shipping company’s stock valued at $1,127,000 after buying an additional 32,817 shares during the period. Hourglass Capital LLC boosted its position in Scorpio Bulkers by 11.1% in the 1st quarter. Hourglass Capital LLC now owns 777,500 shares of the shipping company’s stock valued at $2,986,000 after buying an additional 77,500 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Scorpio Bulkers by 451.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,354 shares of the shipping company’s stock valued at $44,000 after buying an additional 9,295 shares during the period. 36.18% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on SALT shares. Noble Financial reissued a “buy” rating and issued a $8.50 price target on shares of Scorpio Bulkers in a research report on Wednesday, July 24th. ValuEngine cut shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. BTIG Research raised their price target on shares of Scorpio Bulkers to $9.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Zacks Investment Research cut shares of Scorpio Bulkers from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $8.21.
Scorpio Bulkers (NYSE:SALT) last released its quarterly earnings data on Monday, July 22nd. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $48.00 million. Scorpio Bulkers had a net margin of 10.47% and a negative return on equity of 0.31%. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. Equities analysts expect that Scorpio Bulkers Inc will post 0.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.41%. Scorpio Bulkers’s dividend payout ratio (DPR) is currently -266.67%.
Scorpio Bulkers Company Profile
Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.
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