Lazard Asset Management LLC Buys 7,127 Shares of Euroseas Ltd. (NASDAQ:ESEA)

Lazard Asset Management LLC raised its stake in Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,165 shares of the shipping company's stock after purchasing an additional 7,127 shares during the quarter. Lazard Asset Management LLC owned approximately 0.43% of Euroseas worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its stake in shares of Euroseas by 4.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company's stock worth $391,000 after acquiring an additional 471 shares during the period. Bank of America Corp DE boosted its stake in shares of Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company's stock worth $68,000 after acquiring an additional 1,756 shares during the period. Marshall Wace LLP boosted its stake in shares of Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company's stock worth $1,473,000 after acquiring an additional 16,969 shares during the period. Mariner LLC bought a new position in shares of Euroseas during the 4th quarter worth approximately $306,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock worth $4,166,000 after acquiring an additional 16,700 shares during the period. 6.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Euroseas in a research note on Tuesday. They set a "hold" rating for the company.

Euroseas Stock Performance

Shares of NASDAQ ESEA opened at $37.85 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Euroseas Ltd. has a 12 month low of $26.30 and a 12 month high of $50.92. The stock has a 50 day moving average of $31.69 and a 200-day moving average of $34.29. The company has a market capitalization of $265.33 million, a P/E ratio of 2.33 and a beta of 0.75.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued 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 of this dividend was Tuesday, March 11th. Euroseas's dividend payout ratio (DPR) is presently 16.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.