Marshall Wace LLP Takes $5.12 Million Position in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)

Marshall Wace LLP bought a new stake in shares of Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) in the third quarter, Holdings Channel.com reports. The fund bought 214,148 shares of the company’s stock, valued at approximately $5,124,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Grindrod Shipping by 0.6% during the 3rd quarter. Renaissance Technologies LLC now owns 300,095 shares of the company’s stock valued at $7,181,000 after purchasing an additional 1,800 shares during the period. Centiva Capital LP acquired a new stake in Grindrod Shipping during the 3rd quarter valued at approximately $229,000. Apollon Wealth Management LLC acquired a new stake in Grindrod Shipping during the 3rd quarter valued at approximately $271,000. Hennessy Advisors Inc. increased its position in Grindrod Shipping by 1.5% during the 3rd quarter. Hennessy Advisors Inc. now owns 141,300 shares of the company’s stock valued at $3,381,000 after purchasing an additional 2,100 shares during the period. Finally, BCK Capital Management LP acquired a new stake in Grindrod Shipping during the 3rd quarter valued at approximately $976,000. Institutional investors and hedge funds own 43.14% of the company’s stock.

Grindrod Shipping Price Performance

Grindrod Shipping stock opened at $12.85 on Tuesday. The stock has a market capitalization of $247.36 million, a price-to-earnings ratio of 2.41 and a beta of 0.71. Grindrod Shipping Holdings Ltd. has a 52-week low of $12.73 and a 52-week high of $28.98. The stock’s 50 day moving average price is $15.00 and its two-hundred day moving average price is $20.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.99 and a current ratio of 1.16.

Grindrod Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, March 10th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, March 9th. Grindrod Shipping’s dividend payout ratio is currently 2.25%.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Grindrod Shipping from a “b” rating to a “c+” rating in a research report on Friday, February 17th.

Grindrod Shipping Profile

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Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.