Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN – Get a rating) experienced significant growth in short-term interest during the month of March. As of March 31, there were short interests totaling 265,500 shares, up 28.2% from the total of 207,100 shares as of March 15. Based on an average daily trading volume of 0 shares, the short interest ratio is currently ∞ days.
Shares of NASDAQ: GRIN traded at $1.52 on Monday, reaching $26.30. The company had a trading volume of 8,482 shares, compared to an average volume of 461,921. Grindrod Shipping has a 12-month low of $6.99 and a 12-month high of $28.47. The stock has a 50-day moving average price of $23.31 and a 200-day moving average price of $18.18. The stock has a market capitalization of $506.28 million, a P/E ratio of 4.14 and a beta of 0.86. The company has a quick ratio of 1.47, a current ratio of 1.61 and a debt ratio of 0.70.
Grindrod Expedition (NASDAQ: GRIN – Get a rating) last released its quarterly earnings data on Wednesday, February 16. The company reported earnings per share of $2.75 for the quarter, beating the consensus estimate of $2.50 by $0.25. Grindrod Shipping achieved a return on equity of 41.13% and a net margin of 23.38%. The company posted revenue of $114.86 million in the quarter, compared to $118.51 million expected by analysts. On average, sell-side analysts expect Grindrod Shipping to post earnings per share of 5.66 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22. Investors of record on Friday, March 11 received a dividend of $0.72 per share. The ex-dividend date was Thursday, March 10. This represents an annualized dividend of $2.88 and a dividend yield of 10.95%. Grindrod Shipping’s dividend payout ratio is currently 48.16%.
Hedge funds and other institutional investors have recently been buying and selling stocks. Two Sigma Investments LP acquired a new position in shares of Grindrod Shipping during Q3 worth approximately $378,000. Trexquant Investment LP acquired a new position in shares of Grindrod Shipping during Q3 worth approximately $212,000. Advisor Group Holdings Inc. acquired a new position in shares of Grindrod Shipping during Q3 worth approximately $52,000. Marshall Wace LLP acquired a new position in shares of Grindrod Shipping during Q3 worth approximately $5,475,000. Finally, Dorsey Wright & Associates acquired a new position in Grindrod Shipping in Q4 worth approximately $66,000. 38.87% of the shares are held by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a price target of $26.00 for the company in a Wednesday, February 23 research report.
Grindrod Transport Company Profile (Get a rating)
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term charter dry bulk carriers that transport a range of bulk and bulk cargo, including ores, coal, grain, forest products, iron and steel products and fertilizers. .
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