Tufton Oceanic Assets Limited (SHIP) to Issue Quarterly Dividend of $0.03 on October 6th

Tufton Oceanic Assets Limited (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Shareholders of record on Friday, September 22nd will be paid a dividend of 0.025 per share by the shipping company on Friday, October 6th. This represents a $0.10 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, September 21st.

Tufton Oceanic Assets has a dividend payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tufton Oceanic Assets to earn $0.29 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 34.5%.

Tufton Oceanic Assets Trading Down 0.4 %

Shares of Tufton Oceanic Assets stock opened at $5.36 on Tuesday. The firm has a market capitalization of $97.50 million, a PE ratio of 23.30 and a beta of 0.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.51 and a quick ratio of 0.48. The company’s fifty day moving average price is $5.34 and its two-hundred day moving average price is $5.06. Tufton Oceanic Assets has a 52-week low of $4.03 and a 52-week high of $7.08.

Tufton Oceanic Assets (NASDAQ:SHIP) last posted its earnings results on Wednesday, August 2nd. The shipping company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.14. Tufton Oceanic Assets had a net margin of 3.74% and a return on equity of 2.78%. The business had revenue of $28.33 million for the quarter, compared to analyst estimates of $26.39 million. On average, analysts expect that Tufton Oceanic Assets will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SHIP. HighTower Advisors LLC acquired a new position in Tufton Oceanic Assets during the 1st quarter valued at about $61,000. Equitable Holdings Inc. bought a new stake in shares of Tufton Oceanic Assets in the 1st quarter valued at about $64,000. Renaissance Technologies LLC increased its stake in shares of Tufton Oceanic Assets by 290.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,827,275 shares of the shipping company’s stock valued at $3,223,000 after acquiring an additional 2,103,300 shares during the last quarter. State Street Corp increased its stake in shares of Tufton Oceanic Assets by 106.3% in the 1st quarter. State Street Corp now owns 171,130 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 88,179 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Tufton Oceanic Assets by 183.1% in the 1st quarter. Jane Street Group LLC now owns 127,749 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 82,629 shares during the last quarter. 7.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHIP has been the topic of several research reports. StockNews.com upgraded shares of Tufton Oceanic Assets from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. TheStreet upgraded shares of Tufton Oceanic Assets from a “d+” rating to a “c-” rating in a research report on Friday.

About Tufton Oceanic Assets

Seanergy Maritime Holdings Corp. is an international shipping company, which engages in the seaborne transportation of dry bulk commodities. It focuses on the owning and management of a fleet of Capesize bulk carriers. The company was founded on January 4, 2008 and is headquartered in Athens, Greece.