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

Navios Maritime Partners LP (NYSE:NMM) shares hit a new 52-week high on Tuesday . The stock traded as high as $62.01 and last traded at $61.84, with a volume of 132159 shares. The stock had previously closed at $60.22.

Analyst Ratings Changes

A number of research firms recently issued reports on NMM. Weiss Ratings reiterated a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. Wall Street Zen raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Navios Maritime Partners Stock Down 3.1%

The firm’s 50 day simple moving average is $55.34 and its 200-day simple moving average is $50.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 6.92 and a beta of 1.38.

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

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Monday, February 9th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, February 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP acquired a new position in Navios Maritime Partners in the 2nd quarter valued at about $47,000. TD Waterhouse Canada Inc. purchased a new position in shares of Navios Maritime Partners in the 2nd quarter valued at approximately $62,000. State of Wyoming purchased a new position in shares of Navios Maritime Partners in the 4th quarter valued at approximately $137,000. Cerity Partners LLC acquired a new position in shares of Navios Maritime Partners in the second quarter valued at approximately $212,000. Finally, Aristides Capital LLC purchased a new stake in shares of Navios Maritime Partners during the second quarter worth approximately $228,000. 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.