UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 33,949 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,852 shares of the shipping company's stock after acquiring an additional 33,949 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.30% of Genco Shipping & Trading worth $1,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in GNK. Teacher Retirement System of Texas purchased a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $3,692,000. Barclays PLC grew its position in Genco Shipping & Trading by 173.3% during the 4th quarter. Barclays PLC now owns 282,603 shares of the shipping company's stock worth $3,940,000 after purchasing an additional 179,216 shares during the period. Royce & Associates LP grew its position in Genco Shipping & Trading by 23.9% during the 4th quarter. Royce & Associates LP now owns 597,860 shares of the shipping company's stock worth $8,334,000 after purchasing an additional 115,173 shares during the period. JPMorgan Chase & Co. grew its position in Genco Shipping & Trading by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 398,321 shares of the shipping company's stock worth $5,553,000 after purchasing an additional 113,230 shares during the period. Finally, American Century Companies Inc. grew its position in Genco Shipping & Trading by 8.9% during the 4th quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock worth $18,981,000 after purchasing an additional 111,564 shares during the period. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GNK. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

Genco Shipping & Trading Stock Up 3.0%

GNK stock traded up $0.41 during midday trading on Wednesday, reaching $13.92. The company had a trading volume of 795,267 shares, compared to its average volume of 557,155. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $22.18. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $597.86 million, a P/E ratio of 7.95, a PEG ratio of 5.64 and a beta of 1.22. The company has a 50 day moving average of $13.15 and a two-hundred day moving average of $13.93.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The firm had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business's quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, equities research analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Announces Dividend

The company also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 57.69%.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.