Navios Maritime Partners (NYSE:NMM) Sets New 1-Year Low - Here's What Happened

Shares of Navios Maritime Partners L.P. (NYSE:NMM - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.12 and last traded at $37.49, with a volume of 26209 shares changing hands. The stock had previously closed at $39.84.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a "hold" rating to a "buy" rating in a report on Thursday, March 13th.

Navios Maritime Partners Stock Performance

The stock has a fifty day moving average price of $40.96 and a 200 day moving average price of $47.54. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The firm has a market cap of $904.18 million, a price-to-earnings ratio of 2.51 and a beta of 1.65.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 EPS for the quarter, missing the consensus estimate of $4.54 by ($1.93). Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. The company had revenue of $302.99 million for the quarter, compared to analyst estimates of $340.83 million. As a group, analysts predict that Navios Maritime Partners L.P. will post 12.64 earnings per share for the current year.

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Navios Maritime Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Monday, February 10th. Navios Maritime Partners's dividend payout ratio is 1.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Navios Maritime Partners in the 4th quarter valued at $656,000. ING Groep NV increased its stake in Navios Maritime Partners by 446.2% in the fourth quarter. ING Groep NV now owns 71,000 shares of the shipping company's stock valued at $3,074,000 after acquiring an additional 58,000 shares during the period. Commonwealth Equity Services LLC raised its position in Navios Maritime Partners by 38.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 160,834 shares of the shipping company's stock worth $6,963,000 after purchasing an additional 44,576 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Navios Maritime Partners by 21.8% during the third quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company's stock valued at $135,000 after purchasing an additional 384 shares in the last quarter. Finally, Merrion Investment Management Co LLC grew its stake in shares of Navios Maritime Partners by 56.9% in the 4th quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company's stock valued at $435,000 after purchasing an additional 3,640 shares during the period. 62.74% of the stock is currently owned by institutional investors and hedge funds.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.