Public Employees Retirement System of Ohio Takes Position in Himalaya Shipping Ltd. $HSHP

Public Employees Retirement System of Ohio bought a new stake in Himalaya Shipping Ltd. (NYSE:HSHP) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 28,968 shares of the company’s stock, valued at approximately $384,000.

A number of other institutional investors and hedge funds also recently modified their holdings of HSHP. Arrowstreet Capital Limited Partnership lifted its holdings in Himalaya Shipping by 292.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock worth $13,344,000 after acquiring an additional 750,944 shares during the period. State Street Corp grew its stake in Himalaya Shipping by 1.4% in the 4th quarter. State Street Corp now owns 403,954 shares of the company’s stock valued at $3,676,000 after purchasing an additional 5,719 shares during the period. Bank of America Corp DE grew its stake in Himalaya Shipping by 230.4% in the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock valued at $5,307,000 after purchasing an additional 278,273 shares during the period. Geode Capital Management LLC increased its position in shares of Himalaya Shipping by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 356,350 shares of the company’s stock valued at $2,056,000 after purchasing an additional 11,828 shares during the last quarter. Finally, Globeflex Capital L P increased its position in shares of Himalaya Shipping by 2,033.2% during the 1st quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock valued at $4,238,000 after purchasing an additional 303,713 shares during the last quarter. 22.33% of the stock is owned by hedge funds and other institutional investors.

Himalaya Shipping Price Performance

Shares of NYSE HSHP opened at $17.90 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The stock has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $14.77. Himalaya Shipping Ltd. has a 1-year low of $7.37 and a 1-year high of $18.86. The firm has a market cap of $835.17 million, a price-to-earnings ratio of 15.84 and a beta of 1.37.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. The firm had revenue of $55.30 million for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Himalaya Shipping Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 18th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 17th. This is a positive change from Himalaya Shipping’s previous dividend of $0.22.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HSHP shares. Wall Street Zen cut Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Clarkson Capital upgraded shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Finally, Weiss Ratings raised shares of Himalaya Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Himalaya Shipping has a consensus rating of “Buy”.

Himalaya Shipping Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.