Navios Maritime Partners LP (NMM) to Distribute Quarterly Dividend of $0.06 on August 13th

Navios Maritime Partners LP (NYSE:NMM) declared a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be given a dividend of 0.06 per share by the shipping company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th.

Navios Maritime Partners has decreased its dividend payment by an average of 0.2%per year over the last three years. Navios Maritime Partners has a payout ratio of 1.8% meaning its dividend is sufficiently covered by earnings.

Navios Maritime Partners Trading Up 0.1%

Navios Maritime Partners stock opened at $79.09 on Friday. The stock has a 50-day simple moving average of $74.14 and a 200 day simple moving average of $69.58. The stock has a market capitalization of $2.27 billion, a P/E ratio of 6.66 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. Navios Maritime Partners has a 52 week low of $42.77 and a 52 week high of $82.84.

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

Insider Buying and Selling

In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,208 shares of the company’s stock in a transaction on Monday, June 29th. The stock was acquired at an average price of $68.88 per share, for a total transaction of $83,207.04. Following the purchase, the insider directly owned 4,757,419 shares of the company’s stock, valued at $327,691,020.72. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought 66,164 shares of company stock worth $4,883,053 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after buying an additional 7,006 shares in the last quarter. Jump Financial LLC acquired a new stake in Navios Maritime Partners during the second quarter worth approximately $580,000. Cerity Partners LLC acquired a new stake in Navios Maritime Partners during the second quarter worth approximately $212,000. BNP Paribas Financial Markets increased its stake in Navios Maritime Partners by 25.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after acquiring an additional 1,559 shares during the period. Finally, Ion Asset Management Ltd. raised its holdings in Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after acquiring an additional 17,285 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

About Navios Maritime Partners

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.