California Public Employees Retirement System lifted its position in Seaspan Corporation (NYSE:SSW) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 206,400 shares of the shipping company’s stock after buying an additional 15,900 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Seaspan Corporation worth $1,474,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Seaspan Corporation by 836.0% during the second quarter. Vanguard Group Inc. now owns 210,751 shares of the shipping company’s stock valued at $1,505,000 after buying an additional 188,234 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Seaspan Corporation during the second quarter valued at $179,000. Wells Fargo & Company MN boosted its position in Seaspan Corporation by 3.9% during the second quarter. Wells Fargo & Company MN now owns 36,101 shares of the shipping company’s stock valued at $258,000 after purchasing an additional 1,339 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Seaspan Corporation during the second quarter valued at $1,289,000. Finally, Symons Capital Management Inc. acquired a new stake in Seaspan Corporation during the second quarter valued at $511,000. 15.16% of the stock is currently owned by institutional investors.
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Seaspan Corporation (SSW) opened at $5.78 on Thursday. Seaspan Corporation has a 1-year low of $5.02 and a 1-year high of $11.76. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $721.59, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.71 and a beta of 0.67.
Seaspan Corporation (NYSE:SSW) last posted its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $211.01 million for the quarter, compared to the consensus estimate of $212.46 million. Seaspan Corporation had a return on equity of 7.14% and a net margin of 14.23%. During the same quarter in the prior year, the business posted $0.29 EPS. equities analysts expect that Seaspan Corporation will post 0.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Friday, October 20th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.65%. The ex-dividend date was Thursday, October 19th. Seaspan Corporation’s dividend payout ratio is currently 111.11%.
In other Seaspan Corporation news, CEO Gerry Yougui Wang sold 634,762 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $7.45, for a total transaction of $4,728,976.90. Following the completion of the transaction, the chief executive officer now owns 2,042,848 shares in the company, valued at approximately $15,219,217.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
A number of analysts have weighed in on the company. ValuEngine cut Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised Seaspan Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub cut Seaspan Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group set a $5.00 price objective on Seaspan Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.79.
Seaspan Corporation Profile
Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.
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