Seaspan Corp. (SSW) Stake Increased by Global X Management Co. LLC
Global X Management Co. LLC raised its position in shares of Seaspan Corp. (NYSE:SSW) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 558,108 shares of the company’s stock after buying an additional 8,500 shares during the period. Global X Management Co. LLC owned 0.53% of Seaspan Corp. worth $7,440,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. TIAA CREF Trust Co. FSB MO raised its stake in Seaspan Corp. by 6.3% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 45,272 shares of the company’s stock valued at $603,000 after buying an additional 2,673 shares during the period. CIBC World Markets Inc. boosted its stake in shares of Seaspan Corp. by 5.7% in the third quarter. CIBC World Markets Inc. now owns 48,741 shares of the company’s stock worth $650,000 after buying an additional 2,626 shares during the last quarter. Dividend Assets Capital LLC purchased a new stake in shares of Seaspan Corp. during the third quarter worth $183,000. California Public Employees Retirement System boosted its stake in shares of Seaspan Corp. by 3.8% in the third quarter. California Public Employees Retirement System now owns 140,900 shares of the company’s stock worth $1,878,000 after buying an additional 5,100 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Seaspan Corp. by 0.5% in the third quarter. Bank of Montreal Can now owns 65,666 shares of the company’s stock worth $876,000 after buying an additional 357 shares during the last quarter. Institutional investors own 11.67% of the company’s stock.
Seaspan Corp. (NYSE:SSW) traded down 3.89% during mid-day trading on Tuesday, hitting $9.14. The stock had a trading volume of 411,477 shares. The firm’s market cap is $962.41 million. The company has a 50-day moving average of $11.14 and a 200-day moving average of $13.71. Seaspan Corp. has a 12-month low of $8.08 and a 12-month high of $20.00.
Seaspan Corp. (NYSE:SSW) last issued its earnings results on Monday, October 31st. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.01. Seaspan Corp. had a positive return on equity of 10.38% and a negative net margin of 7.28%. The business earned $224.90 million during the quarter, compared to the consensus estimate of $225.88 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Analysts expect that Seaspan Corp. will post $1.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Thursday, October 20th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, October 18th. This represents a $1.50 dividend on an annualized basis and a yield of 15.53%. Seaspan Corp.’s dividend payout ratio is currently -141.51%.
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SSW has been the subject of a number of research reports. Zacks Investment Research cut Seaspan Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Clarkson Capital reaffirmed a “neutral” rating on shares of Seaspan Corp. in a report on Friday, September 23rd. TheStreet downgraded Seaspan Corp. from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Finally, Citigroup Inc. downgraded Seaspan Corp. from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $12.00 to $7.00 in a report on Thursday, November 3rd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.67.
Seaspan Corp. Company Profile
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.
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