Arrowstreet Capital Limited Partnership Invests $28.96 Million in CMB.TECH nv $CMBT

Key Points

• Arrowstreet Capital acquired 2.29 million CMB.TECH shares during the first quarter, valued at approximately $28.96 million. Several other institutional investors also initiated positions in the company.
• CMB.TECH reported strong quarterly results, with EPS of $1.27 versus the $0.27 analyst consensus and revenue of $519.63 million, exceeding expectations of $422.43 million.
• The company paid a $0.44 special dividend, while analysts maintained a positive outlook: two rated the stock Strong Buy and one rated it Hold, producing an overall consensus rating of Buy.

Arrowstreet Capital Limited Partnership bought a new position in shares of CMB.TECH nv (NYSE:CMBT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,288,834 shares of the company's stock, valued at approximately $28,965,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. bought a new stake in shares of CMB.TECH in the fourth quarter worth $26,000. Raymond James Financial Inc. acquired a new stake in CMB.TECH during the 2nd quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of CMB.TECH in the 4th quarter worth about $29,000. Valley Wealth Managers Inc. bought a new position in shares of CMB.TECH in the 1st quarter worth about $33,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of CMB.TECH in the 3rd quarter valued at about $45,000.

CMB.TECH Stock Performance

Shares of CMBT stock opened at $15.59 on Thursday. The firm's 50-day simple moving average is $15.23 and its two-hundred day simple moving average is $13.86. CMB.TECH nv has a 52 week low of $7.78 and a 52 week high of $17.72. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 9.22 and a beta of 0.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95.

CMB.TECH (NYSE:CMBT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $1.00. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.The firm had revenue of $519.63 million for the quarter, compared to analysts' expectations of $422.43 million.

CMB.TECH Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH's payout ratio is 36.69%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CMBT. Wall Street Zen raised shares of CMB.TECH from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Weiss Ratings raised shares of CMB.TECH from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Finally, Berenberg Bank upgraded CMB.TECH to a "strong-buy" rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy".

CMB.TECH Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.

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