Himalaya Shipping Ltd. (NYSE:HSHP) to Issue $0.22 Dividend

Key Points

• Himalaya Shipping declared a $0.22-per-share dividend, payable August 27 to shareholders of record August 21. The stock’s ex-dividend date is August 20.
• The dividend appears well covered, with a reported 3.7% payout ratio. In its latest quarter, the company reported $0.52 in earnings per share and $55.3 million in revenue.
• HSHP opened at $16.30 and was trading near its 52-week high of $16.69. Institutional investors own 22.33% of the stock, with Arrowstreet Capital and Bank of America among those increasing their stakes.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) announced a dividend on Saturday, August 8th. Stockholders of record on Friday, August 21st will be paid a dividend of 0.22 per share on Thursday, August 27th. The ex-dividend date is Thursday, August 20th.

Himalaya Shipping has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings.

Himalaya Shipping Price Performance

NYSE HSHP opened at $16.30 on Tuesday. The company has a market cap of $760.39 million, a price-to-earnings ratio of 14.42 and a beta of 1.37. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. The stock's fifty day moving average price is $14.93 and its 200 day moving average price is $14.06. Himalaya Shipping has a 1 year low of $7.12 and a 1 year high of $16.69.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. The company had revenue of $55.30 million during the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSHP. Arrowstreet Capital Limited Partnership raised its stake in shares of Himalaya Shipping by 292.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company's stock valued at $13,344,000 after buying an additional 750,944 shares during the last quarter. State Street Corp boosted its stake in shares of Himalaya Shipping by 1.4% in the fourth quarter. State Street Corp now owns 403,954 shares of the company's stock worth $3,676,000 after buying an additional 5,719 shares during the last quarter. Bank of America Corp DE grew its holdings in Himalaya Shipping by 230.4% during the first quarter. Bank of America Corp DE now owns 399,028 shares of the company's stock worth $5,307,000 after acquiring an additional 278,273 shares during the period. Geode Capital Management LLC grew its holdings in Himalaya Shipping by 3.4% during the second quarter. Geode Capital Management LLC now owns 356,350 shares of the company's stock worth $2,056,000 after acquiring an additional 11,828 shares during the period. Finally, Globeflex Capital L P purchased a new position in Himalaya Shipping during the second quarter valued at approximately $4,257,000. 22.33% of the stock is owned by institutional investors and hedge funds.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.

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