Raynor Geoffrey trimmed its holdings in Scorpio Bulkers Inc (NYSE:SALT) by 66.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,303 shares of the shipping company’s stock after selling 598,544 shares during the quarter. Scorpio Bulkers comprises about 4.4% of Raynor Geoffrey’s portfolio, making the stock its 4th biggest position. Raynor Geoffrey owned approximately 0.39% of Scorpio Bulkers worth $2,207,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Evermore Global Advisors LLC raised its stake in Scorpio Bulkers by 6.1% during the 4th quarter. Evermore Global Advisors LLC now owns 6,324,477 shares of the shipping company’s stock worth $46,801,000 after buying an additional 366,181 shares during the period. Raging Capital Management LLC raised its stake in Scorpio Bulkers by 9.5% during the 4th quarter. Raging Capital Management LLC now owns 3,538,399 shares of the shipping company’s stock worth $26,184,000 after buying an additional 308,139 shares during the period. Royce & Associates LP raised its stake in Scorpio Bulkers by 23.0% during the 4th quarter. Royce & Associates LP now owns 1,355,978 shares of the shipping company’s stock worth $10,034,000 after buying an additional 254,000 shares during the period. Renaissance Technologies LLC raised its stake in Scorpio Bulkers by 59.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,124,292 shares of the shipping company’s stock worth $8,320,000 after buying an additional 417,383 shares during the period. Finally, Hourglass Capital LLC raised its stake in Scorpio Bulkers by 11.8% during the 4th quarter. Hourglass Capital LLC now owns 1,070,000 shares of the shipping company’s stock worth $7,918,000 after buying an additional 113,000 shares during the period. 37.04% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research note on Thursday, January 25th. ValuEngine lowered Scorpio Bulkers from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Morgan Stanley decreased their price objective on Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Jefferies Group began coverage on Scorpio Bulkers in a report on Monday, December 18th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Noble Financial began coverage on Scorpio Bulkers in a report on Friday, January 12th. They set a “buy” rating and a $10.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Scorpio Bulkers currently has a consensus rating of “Hold” and an average price target of $10.21.
Scorpio Bulkers stock traded down $0.15 during mid-day trading on Monday, hitting $7.30. The stock had a trading volume of 186,091 shares, compared to its average volume of 597,848. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.41 and a quick ratio of 1.35. Scorpio Bulkers Inc has a 52 week low of $5.70 and a 52 week high of $10.14.
Scorpio Bulkers (NYSE:SALT) last released its earnings results on Monday, February 5th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $51.13 million during the quarter, compared to analyst estimates of $49.34 million. Scorpio Bulkers had a negative return on equity of 4.45% and a negative net margin of 36.82%. Scorpio Bulkers’s quarterly revenue was up 90.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.29) earnings per share. analysts anticipate that Scorpio Bulkers Inc will post 0.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Wednesday, February 14th. Scorpio Bulkers’s dividend payout ratio is presently -4.82%.
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Scorpio Bulkers Profile
Scorpio Bulkers Inc is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT.
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