Boston Partners Boosts Stock Position in Euroseas Ltd. $ESEA

Key Points

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Boston Partners boosted its position in Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 37.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,045 shares of the shipping company's stock after acquiring an additional 4,647 shares during the quarter. Boston Partners owned 0.24% of Euroseas worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its stake in Euroseas by 4.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company's stock valued at $391,000 after acquiring an additional 471 shares during the last quarter. Bank of America Corp DE increased its stake in Euroseas by 1,611.0% in the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company's stock valued at $68,000 after acquiring an additional 1,756 shares during the last quarter. Lazard Asset Management LLC increased its stake in Euroseas by 30.9% in the fourth quarter. Lazard Asset Management LLC now owns 30,165 shares of the shipping company's stock valued at $1,091,000 after acquiring an additional 7,127 shares during the last quarter. Mariner LLC bought a new position in Euroseas in the fourth quarter valued at $306,000. Finally, Renaissance Technologies LLC increased its stake in Euroseas by 17.0% in the fourth quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock valued at $4,166,000 after acquiring an additional 16,700 shares during the last quarter. Institutional investors own 6.27% of the company's stock.

Euroseas Trading Up 1.9%

NASDAQ ESEA traded up $1.23 during trading on Friday, hitting $64.60. 58,609 shares of the company's stock traded hands, compared to its average volume of 51,362. The stock has a fifty day moving average of $50.67 and a two-hundred day moving average of $39.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.21 and a quick ratio of 3.15. Euroseas Ltd. has a 12-month low of $26.30 and a 12-month high of $65.50. The firm has a market cap of $452.85 million, a P/E ratio of 3.80 and a beta of 0.83.

Euroseas (NASDAQ:ESEA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The shipping company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.33. The business had revenue of $57.23 million during the quarter, compared to analyst estimates of $53.31 million. Euroseas had a net margin of 53.75% and a return on equity of 28.56%. As a group, sell-side analysts expect that Euroseas Ltd. will post 15.15 EPS for the current year.

Euroseas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.70 per share. This is an increase from Euroseas's previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 9th. Euroseas's dividend payout ratio (DPR) is currently 15.28%.

Wall Street Analyst Weigh In

ESEA has been the topic of a number of research analyst reports. Maxim Group increased their target price on Euroseas from $57.00 to $62.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Wall Street Zen upgraded shares of Euroseas from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $61.00.

Euroseas Profile

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.