Navios Maritime Partners LP (NYSE:NMM) Increases Dividend to $0.06 Per Share

Key Points

• Navios Maritime Partners raised its quarterly dividend to $0.06 per share (a 20.0% increase from $0.05), with an ex-dividend/record date of May 11 and payment scheduled for May 14, implying an annualized yield of about 0.3%.
• The company reported a strong quarter with $3.40 EPS vs. $2.41 consensus and $365.55M revenue vs. $316M estimate (revenue +10% YoY) and a net margin of 21.23%.
• Insider Angeliki Frangou purchased 1,196 shares at an average $70.39, raising her holdings to ~4.71M shares, and institutional investors/hedge funds now own roughly 62.74% of the stock.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Monday, May 11th will be given a dividend of 0.06 per share by the shipping company on Thursday, May 14th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, May 11th. This is a 20.0% increase from Navios Maritime Partners's previous quarterly dividend of $0.05.

Navios Maritime Partners has decreased its dividend payment by an average of 0.2%annually over the last three years. Navios Maritime Partners has a payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings.

Navios Maritime Partners Price Performance

NYSE:NMM opened at $71.91 on Wednesday. Navios Maritime Partners has a 52 week low of $33.20 and a 52 week high of $74.21. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average is $68.04 and its two-hundred day moving average is $58.43. The company has a market capitalization of $2.06 billion, a P/E ratio of 7.48 and a beta of 1.23.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The firm had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. During the same quarter last year, the firm earned $2.61 EPS. The firm's revenue for the quarter was up 10.0% on a year-over-year basis.

Insider Buying and Selling at Navios Maritime Partners

In other news, insider Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock in a transaction dated Friday, April 24th. The shares were acquired at an average cost of $70.39 per share, for a total transaction of $84,186.44. Following the acquisition, the insider owned 4,706,675 shares of the company's stock, valued at $331,302,853.25. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 22,942 shares of company stock valued at $1,592,375.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NMM. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners in the 4th quarter valued at $24,432,000. Marnell Management LLC purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth about $5,027,000. ING Groep NV grew its holdings in shares of Navios Maritime Partners by 123.6% during the third quarter. ING Groep NV now owns 96,600 shares of the shipping company's stock worth $4,352,000 after purchasing an additional 53,400 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Navios Maritime Partners by 150.9% during the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock worth $4,589,000 after purchasing an additional 52,651 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth about $1,507,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

About Navios Maritime Partners

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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