Boston Partners Sells 16,735 Shares of Euroseas Ltd. (NASDAQ:ESEA)

Boston Partners lessened its stake in shares of Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 57.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,398 shares of the shipping company's stock after selling 16,735 shares during the quarter. Boston Partners owned about 0.18% of Euroseas worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ESEA. Sheaff Brock Investment Advisors LLC raised its position in Euroseas by 46.1% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company's stock worth $413,000 after acquiring an additional 3,600 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Euroseas in the fourth quarter worth about $306,000. Retireful LLC acquired a new position in Euroseas in the 4th quarter worth $222,000. Geode Capital Management LLC purchased a new position in shares of Euroseas during the 3rd quarter valued at approximately $248,000. Finally, Barclays PLC raised its stake in Euroseas by 67.5% during the third quarter. Barclays PLC now owns 623 shares of the shipping company's stock valued at $30,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 6.27% of the company's stock.

Euroseas Stock Performance

ESEA traded down $0.89 on Thursday, hitting $30.37. The company had a trading volume of 25,065 shares, compared to its average volume of 37,962. Euroseas Ltd. has a 1-year low of $28.36 and a 1-year high of $50.92. The stock has a market cap of $212.77 million, a price-to-earnings ratio of 1.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The company's fifty day moving average price is $32.72 and its 200 day moving average price is $37.81.

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Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.65 per share. This is an increase from Euroseas's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.60 annualized dividend and a dividend yield of 8.56%. Euroseas's dividend payout ratio is currently 16.10%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Euroseas in a research report on Saturday, March 22nd. They issued a "buy" rating on the stock.

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.