Navios Maritime Partners LP $NMM Stock Position Raised by ING Groep NV

ING Groep NV lifted its holdings in shares of Navios Maritime Partners LP (NYSE:NMM) by 51.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 146,500 shares of the shipping company’s stock after purchasing an additional 49,900 shares during the quarter. ING Groep NV’s holdings in Navios Maritime Partners were worth $7,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. grew its position in Navios Maritime Partners by 5.6% in the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after purchasing an additional 380 shares during the last quarter. Moors & Cabot Inc. grew its position in Navios Maritime Partners by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after purchasing an additional 750 shares during the last quarter. BNP Paribas Financial Markets grew its position in Navios Maritime Partners by 25.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares during the last quarter. Live Oak Investment Partners grew its position in Navios Maritime Partners by 6.8% in the 4th quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock worth $1,692,000 after purchasing an additional 2,063 shares during the last quarter. Finally, State of Wyoming bought a new position in Navios Maritime Partners in the 4th quarter worth about $137,000. Institutional investors own 62.74% of the company’s stock.

Insider Buying and Selling

In other Navios Maritime Partners news, insider Angeliki Frangou bought 1,162 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average cost of $71.02 per share, with a total value of $82,525.24. Following the completion of the purchase, the insider directly owned 4,741,231 shares in the company, valued at approximately $336,722,225.62. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased 57,498 shares of company stock worth $4,100,074 over the last ninety days.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Navios Maritime Partners Trading Down 0.8%

Shares of NYSE:NMM opened at $71.13 on Tuesday. The company has a 50 day moving average of $71.13 and a 200-day moving average of $63.10. The firm has a market cap of $2.04 billion, a P/E ratio of 5.99 and a beta of 1.02. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $80.69. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.02%.

Navios Maritime Partners Company Profile

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.