Lazard Asset Management LLC Increases Stake in Euroseas Ltd. (NASDAQ:ESEA)

Lazard Asset Management LLC boosted its stake in Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 30.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,165 shares of the shipping company's stock after buying an additional 7,127 shares during the quarter. Lazard Asset Management LLC owned approximately 0.43% of Euroseas worth $1,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESEA. Barclays PLC boosted its stake in shares of Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company's stock worth $30,000 after acquiring an additional 251 shares in the last quarter. Bank of America Corp DE grew its position in Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company's stock valued at $68,000 after buying an additional 1,756 shares during the period. Exchange Traded Concepts LLC purchased a new position in Euroseas during the 4th quarter valued at $306,000. Mariner LLC purchased a new stake in shares of Euroseas during the 4th quarter valued at about $306,000. Finally, Cubist Systematic Strategies LLC grew 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 purchasing an additional 471 shares during the last quarter. 6.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on Euroseas in a research note on Tuesday, May 20th. They set a "hold" rating for the company.

Euroseas Price Performance

Shares of NASDAQ ESEA traded down $0.46 during trading on Friday, hitting $37.83. The company had a trading volume of 10,480 shares, compared to its average volume of 37,870. The firm has a market capitalization of $265.19 million, a price-to-earnings ratio of 2.33 and a beta of 0.75. Euroseas Ltd. has a fifty-two week low of $26.30 and a fifty-two week high of $50.92. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $34.22.

Euroseas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a dividend of $0.65 per share. This is a boost from Euroseas's previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 6.87%. The ex-dividend date was Tuesday, March 11th. Euroseas's dividend payout ratio is presently 16.10%.

Euroseas Company 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.