Navios Maritime Partners (NYSE:NMM) Hits New 52-Week High – Time to Buy?

Navios Maritime Partners LP (NYSE:NMM) reached a new 52-week high during trading on Friday . The company traded as high as $54.63 and last traded at $54.37, with a volume of 85292 shares traded. The stock had previously closed at $53.39.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Navios Maritime Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Navios Maritime Partners Stock Up 2.1%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 5.45 and a beta of 1.53. The firm has a 50-day moving average price of $48.05 and a two-hundred day moving average price of $44.17.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, November 18th. The shipping company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a return on equity of 9.24% and a net margin of 23.31%.The firm had revenue of $346.92 million for the quarter, compared to analysts’ expectations of $334.64 million. During the same quarter in the previous year, the business posted $3.15 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, November 10th. This represents a $0.20 annualized dividend and a yield of 0.4%. Navios Maritime Partners’s dividend payout ratio is presently 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. Moors & Cabot Inc. boosted its stake in shares of Navios Maritime Partners by 9.5% during the 1st quarter. Moors & Cabot Inc. now owns 83,281 shares of the shipping company’s stock worth $3,266,000 after buying an additional 7,250 shares during the last quarter. Virtu Financial LLC bought a new stake in Navios Maritime Partners during the first quarter worth about $345,000. Ieq Capital LLC boosted its position in Navios Maritime Partners by 41.4% during the first quarter. Ieq Capital LLC now owns 78,684 shares of the shipping company’s stock valued at $3,086,000 after purchasing an additional 23,054 shares during the last quarter. State of Wyoming acquired a new position in Navios Maritime Partners during the first quarter valued at approximately $157,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Navios Maritime Partners in the second quarter valued at approximately $394,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.