BlackRock Inc. increased its position in shares of SEASPAN CORP/SH SH (NYSE:SSW) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,705,958 shares of the shipping company’s stock after purchasing an additional 272,216 shares during the period. BlackRock Inc. owned about 1.25% of SEASPAN CORP/SH SH worth $26,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSW. Manchester Financial Inc. acquired a new position in SEASPAN CORP/SH SH in the second quarter worth $26,000. Pecaut & CO. increased its holdings in SEASPAN CORP/SH SH by 1.3% in the second quarter. Pecaut & CO. now owns 392,700 shares of the shipping company’s stock valued at $3,852,000 after purchasing an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in SEASPAN CORP/SH SH by 4,316.9% in the second quarter. JPMorgan Chase & Co. now owns 5,742 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 5,612 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in SEASPAN CORP/SH SH in the second quarter valued at about $98,000. Finally, Comerica Bank bought a new stake in SEASPAN CORP/SH SH in the second quarter valued at about $115,000. Institutional investors and hedge funds own 46.59% of the company’s stock.

Shares of SEASPAN CORP/SH SH stock traded down $0.06 during trading hours on Monday, hitting $11.11. The company’s stock had a trading volume of 2,831 shares, compared to its average volume of 458,898. SEASPAN CORP/SH SH has a 12 month low of $7.05 and a 12 month high of $11.75. The stock has a 50 day moving average of $10.76 and a 200 day moving average of $9.98. The company has a market capitalization of $2.41 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 1.28 and a beta of 0.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.86.

SEASPAN CORP/SH SH (NYSE:SSW) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $275.42 million during the quarter, compared to analysts’ expectations of $277.26 million. SEASPAN CORP/SH SH had a return on equity of 9.45% and a net margin of 40.70%. SEASPAN CORP/SH SH’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities analysts expect that SEASPAN CORP/SH SH will post 0.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, October 21st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.50 annualized dividend and a yield of 4.50%. SEASPAN CORP/SH SH’s dividend payout ratio (DPR) is presently 40.98%.

A number of research firms recently commented on SSW. BMO Capital Markets began coverage on SEASPAN CORP/SH SH in a report on Wednesday, August 14th. They issued a “market perform” rating and a $10.50 price objective for the company. Zacks Investment Research upgraded SEASPAN CORP/SH SH from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, October 9th. Finally, ValuEngine upgraded SEASPAN CORP/SH SH from a “sell” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. SEASPAN CORP/SH SH currently has a consensus rating of “Hold” and a consensus target price of $11.13.

SEASPAN CORP/SH SH Company Profile

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.

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Institutional Ownership by Quarter for SEASPAN CORP/SH SH (NYSE:SSW)

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