Arrowstreet Capital Limited Partnership Buys 414,280 Shares of Diana Shipping inc. $DSX

Key Points

• Arrowstreet Capital increased its Diana Shipping stake by 586.2% in the first quarter, purchasing 414,280 additional shares to reach 484,951 shares valued at approximately $1.21 million.
• Diana Shipping reported stronger-than-expected quarterly results, with earnings per share of $0.16 versus a $0.02 consensus estimate and revenue of $57.29 million compared with expectations of $54.60 million.
• The company declared a quarterly dividend of $0.01, equivalent to $0.04 annually and a 1.6% yield. Despite one “strong-buy” upgrade, the overall analyst consensus remains “Hold,” while institutional investors own 48.68% of the stock.

Arrowstreet Capital Limited Partnership grew its stake in shares of Diana Shipping inc. (NYSE:DSX - Free Report) by 586.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 484,951 shares of the shipping company's stock after buying an additional 414,280 shares during the period. Arrowstreet Capital Limited Partnership owned 0.39% of Diana Shipping worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DSX. Squarepoint Ops LLC bought a new position in shares of Diana Shipping in the third quarter worth approximately $278,000. Two Sigma Investments LP increased its stake in Diana Shipping by 407.4% in the 3rd quarter. Two Sigma Investments LP now owns 80,684 shares of the shipping company's stock worth $136,000 after buying an additional 64,784 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Diana Shipping during the fourth quarter valued at about $775,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Diana Shipping by 3.2% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 668,660 shares of the shipping company's stock valued at $1,110,000 after acquiring an additional 20,943 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Diana Shipping in the fourth quarter valued at about $148,000. 48.68% of the stock is currently owned by institutional investors.

Diana Shipping Stock Down 1.4%

NYSE DSX opened at $2.52 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.69 and a current ratio of 2.05. The company has a market capitalization of $312.89 million, a P/E ratio of 5.24 and a beta of 0.51. Diana Shipping inc. has a one year low of $1.51 and a one year high of $2.91. The stock has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.39.

Diana Shipping (NYSE:DSX - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The shipping company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. Diana Shipping had a net margin of 27.88% and a return on equity of 7.55%. The company had revenue of $57.29 million for the quarter, compared to analysts' expectations of $54.60 million.

Diana Shipping Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $0.01 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.04 annualized dividend and a yield of 1.6%. Diana Shipping's dividend payout ratio (DPR) is currently 8.33%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DSX. Weiss Ratings restated a "hold (c-)" rating on shares of Diana Shipping in a research note on Monday, July 20th. Wall Street Zen raised shares of Diana Shipping from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Diana Shipping Profile

Diana Shipping Inc is a global shipping company incorporated in the Republic of the Marshall Islands and headquartered in Athens, Greece. The company specializes in the ownership and operation of dry bulk vessels that transport a variety of commodities, including coal, iron ore, grains, fertilizers, steel products and other bulk materials. Diana Shipping’s fleet comprises Panamax, Capesize, Newcastlemax and Supramax/Newcastlemax segments, enabling it to address the needs of customers on key global trade routes.

The company conducts its operations by chartering vessels on short‐term voyage charters and longer‐term period charters.

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