Navios Maritime Partners LP (NMM) to Issue Quarterly Dividend of $0.06 on May 14th

Navios Maritime Partners LP (NYSE:NMM) declared a quarterly dividend on Tuesday, April 28th. Stockholders of record on Monday, May 11th will be given a dividend of 0.06 per share by the shipping company on Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, May 11th. This is a 20.0% increase from Navios Maritime Partners’s previous quarterly dividend of $0.05.

Navios Maritime Partners has decreased its dividend by an average of 0.2%annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.8% indicating that its dividend is sufficiently covered by earnings.

Navios Maritime Partners Stock Up 4.7%

Navios Maritime Partners stock opened at $74.90 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of 7.79 and a beta of 1.06. The firm’s fifty day simple moving average is $68.61 and its 200-day simple moving average is $59.42. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Navios Maritime Partners has a 1-year low of $36.61 and a 1-year high of $77.90.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. During the same period last year, the business posted $2.61 EPS. Navios Maritime Partners’s revenue was up 10.0% compared to the same quarter last year.

Insider Transactions at Navios Maritime Partners

In other news, insider Angeliki Frangou purchased 1,289 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $64.87 per share, with a total value of $83,617.43. Following the acquisition, the insider directly owned 4,678,741 shares of the company’s stock, valued at approximately $303,509,928.67. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 33,323 shares of company stock worth $2,344,130.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after acquiring an additional 380 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after acquiring an additional 750 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners in the first quarter worth about $63,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after acquiring an additional 1,559 shares during the last quarter. 62.74% of the stock is owned by institutional investors.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.