Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN – Get a rating) recorded a significant increase in short-term interest in February. As of February 15, there was short interest totaling 110,100 shares, an increase of 42.1% from the total of 77,500 shares as of January 31. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 384,100 shares, the short-term interest rate ratio is currently 0.3 days.
Institutional investors have recently been buying and selling shares of the stock. Goldman Sachs Group Inc. increased its position in Grindrod Shipping shares by 2.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 39,110 shares of the company worth $705,000 after acquiring 792 additional shares in the last quarter. Barclays PLC increased its position in Grindrod Shipping shares by 178.6% during the fourth quarter. Barclays PLC now owns 1,950 shares in the company worth $35,000 after acquiring a further 1,250 shares in the last quarter. Lazard Asset Management LLC raised its position in Grindrod Shipping shares by 44.1% during the fourth quarter. Lazard Asset Management LLC now owns 6,490 shares of the company worth $117,000 after acquiring 1,987 additional shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Grindrod Shipping during the third quarter at a value of $52,000. Finally, Dorsey Wright & Associates purchased a new equity stake in Grindrod Shipping during the fourth quarter at a value of $66,000. Institutional investors and hedge funds hold 38.87% of the company’s shares.
Separately, Zacks Investment Research raised Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a target price of $26.00 for the company in a Wednesday, February 23, report.
Shares of Grindrod Shipping were down $0.31 in Friday trading, hitting $25.47. The stock had a trading volume of 662,636 shares, compared to an average volume of 587,227. Grindrod Shipping has a 1-year low of $5.69 and a 1-year high of $27.10. The company has a quick ratio of 1.47, a current ratio of 1.61 and a debt ratio of 0.70. The stock’s 50-day moving average is $19.24 and its two-hundred-day moving average is $16.47. The stock has a market capitalization of $490.30 million, a price-earnings ratio of 4.26 and a beta of 0.86.
Grindrod Expedition (NASDAQ: GRIN – Get a rating) last released its quarterly earnings data on Wednesday, February 16. The company reported EPS 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 for the quarter, versus a consensus estimate of $118.51 million. As a group, equity research analysts expect Grindrod Shipping to post EPS of 5.56 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 22. Investors of record on Friday, March 11 will receive a dividend of $0.72. The ex-dividend date is Thursday, March 10. This represents an annualized dividend of $2.88 and a yield of 11.31%. Grindrod Shipping’s delivery rate is 12.04%.
About Grindrod Shipping (Get a rating)
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers around the world. It operates a fleet of 23 owned dry bulk carriers and 8 long-term charter dry bulk carriers that transport a range of bulk commodities and general cargo, including ores, coal, grain, forest products, steel products and fertilizers.
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