Navios Maritime Partners (NYSE:NMM) Hits New 12-Month High – Should You Buy?

Shares of Navios Maritime Partners LP (NYSE:NMM) hit a new 52-week high during trading on Friday . The stock traded as high as $58.35 and last traded at $57.8370, with a volume of 30393 shares. The stock had previously closed at $56.62.

Wall Street Analysts Forecast Growth

NMM has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Navios Maritime Partners Stock Up 2.0%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.71 billion, a P/E ratio of 6.62 and a beta of 1.34. The firm’s 50 day moving average price is $53.41 and its two-hundred day moving average price is $48.13.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 18th. The shipping company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.55 by $0.28. The business had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $334.64 million. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 earnings per share. Equities research analysts forecast that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were issued a $0.05 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.29%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NMM. Allworth Financial LP bought a new stake in shares of Navios Maritime Partners during the 2nd quarter worth approximately $47,000. TD Waterhouse Canada Inc. acquired a new position in Navios Maritime Partners during the second quarter worth $62,000. Cerity Partners LLC bought a new stake in Navios Maritime Partners during the second quarter worth $212,000. Aristides Capital LLC bought a new stake in Navios Maritime Partners during the second quarter worth $228,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in Navios Maritime Partners in the third quarter valued at $247,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

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.