Lazard Asset Management LLC Buys 7,127 Shares of Euroseas Ltd. (NASDAQ:ESEA)

Lazard Asset Management LLC raised its stake in Euroseas Ltd. (NASDAQ:ESEA) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,165 shares of the shipping company’s stock after purchasing an additional 7,127 shares during the quarter. Lazard Asset Management LLC owned approximately 0.43% of Euroseas worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its stake in shares of Euroseas by 4.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock worth $391,000 after acquiring an additional 471 shares during the period. Bank of America Corp DE boosted its stake in shares of Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after acquiring an additional 1,756 shares during the period. Marshall Wace LLP boosted its stake in shares of Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company’s stock worth $1,473,000 after acquiring an additional 16,969 shares during the period. Mariner LLC bought a new position in shares of Euroseas during the 4th quarter worth approximately $306,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock worth $4,166,000 after acquiring an additional 16,700 shares during the period. 6.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Euroseas in a research note on Tuesday. They set a “hold” rating for the company.

Euroseas Stock Performance

Shares of NASDAQ ESEA opened at $37.85 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Euroseas Ltd. has a 12 month low of $26.30 and a 12 month high of $50.92. The stock has a 50 day moving average of $31.69 and a 200-day moving average of $34.29. The company has a market capitalization of $265.33 million, a P/E ratio of 2.33 and a beta of 0.75.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a dividend of $0.65 per share. This is a boost from Euroseas’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend was Tuesday, March 11th. Euroseas’s dividend payout ratio (DPR) is presently 16.10%.

Euroseas Profile

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.