Navios Maritime Partners LP $NMM Shares Purchased by ING Groep NV

Key Points

• ING Groep NV increased its stake in Navios Maritime Partners by 51.7% in the fourth quarter, buying 49,900 additional shares for a total of 146,500 shares valued at about $7.68 million.
• Navios Maritime Partners reported strong quarterly results, posting EPS of $3.35 versus the $2.77 estimate and revenue of $357.01 million, which was up 17.4% from a year earlier.
• The company also raised its dividend to $0.06 per share from $0.05, while analysts currently hold a consensus Moderate Buy rating with an average price target of $85.

ING Groep NV boosted its position in Navios Maritime Partners LP (NYSE:NMM - Free Report) by 51.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,500 shares of the shipping company's stock after buying an additional 49,900 shares during the quarter. ING Groep NV owned 0.49% of Navios Maritime Partners worth $7,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NMM. Bank of America Corp DE lifted its holdings in Navios Maritime Partners by 28.8% in the 3rd quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company's stock worth $5,314,000 after buying an additional 26,340 shares in the last quarter. Lighthouse Investment Partners LLC lifted its holdings in Navios Maritime Partners by 92.0% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 52,109 shares of the shipping company's stock worth $2,348,000 after buying an additional 24,964 shares in the last quarter. Arbiter Partners Capital Management LLC acquired a new position in Navios Maritime Partners in the 3rd quarter worth $1,117,000. Ion Asset Management Ltd. lifted its holdings in Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock worth $30,821,000 after buying an additional 17,285 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Navios Maritime Partners by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company's stock worth $1,572,000 after buying an additional 17,040 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company's stock.

Navios Maritime Partners Price Performance

NMM opened at $71.13 on Tuesday. The company has a 50-day moving average of $71.13 and a 200-day moving average of $63.10. The company has a market capitalization of $2.04 billion, a P/E ratio of 5.99 and a beta of 1.02. Navios Maritime Partners LP has a 1-year low of $36.62 and a 1-year high of $80.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The business had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the prior year, the firm earned $1.58 EPS. The company's revenue for the quarter was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's payout ratio is currently 2.02%.

Insider Buying and Selling at Navios Maritime Partners

In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,162 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average price of $71.02 per share, with a total value of $82,525.24. Following the transaction, the insider directly owned 4,741,231 shares in the company, valued at approximately $336,722,225.62. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have bought 57,498 shares of company stock worth $4,100,074.

Analysts Set New Price Targets

A number of equities analysts have commented on NMM shares. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. NYSE: NMM is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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