Tufton Oceanic Assets Limited (NASDAQ:SHIP) Plans $0.03 Quarterly Dividend

Tufton Oceanic Assets Limited (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, November 14th, Zacks reports. Stockholders of record on Friday, December 22nd will be paid a dividend of 0.025 per share by the shipping company on Wednesday, January 10th. This represents a $0.10 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, December 21st.

Tufton Oceanic Assets has a payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings.

Tufton Oceanic Assets Trading Up 4.5 %

Shares of SHIP stock opened at $5.34 on Wednesday. The company has a market capitalization of $104.93 million, a P/E ratio of 23.22 and a beta of 0.57. Tufton Oceanic Assets has a 12-month low of $4.03 and a 12-month high of $7.08. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $5.52 and a 200 day moving average price of $5.14.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Tufton Oceanic Assets from a “d+” rating to a “c-” rating in a research note on Friday, September 15th. StockNews.com assumed coverage on Tufton Oceanic Assets in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Tufton Oceanic Assets

A number of institutional investors have recently modified their holdings of SHIP. State Street Corp lifted its holdings in Tufton Oceanic Assets by 7.9% during the 2nd quarter. State Street Corp now owns 28,395 shares of the shipping company’s stock worth $138,000 after buying an additional 2,074 shares in the last quarter. BlackRock Inc. acquired a new position in Tufton Oceanic Assets during the 1st quarter valued at about $25,000. Geode Capital Management LLC bought a new position in shares of Tufton Oceanic Assets in the 2nd quarter valued at about $63,000. Virtu Financial LLC raised its stake in shares of Tufton Oceanic Assets by 16.9% during the fourth quarter. Virtu Financial LLC now owns 141,848 shares of the shipping company’s stock worth $70,000 after buying an additional 20,550 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Tufton Oceanic Assets in the second quarter valued at approximately $100,000. 7.31% of the stock is owned by institutional investors.

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.