Raynor Geoffrey decreased its holdings in Scorpio Bulkers Inc (NYSE:SALT) by 66.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 298,303 shares of the shipping company’s stock after selling 598,544 shares during the period. Scorpio Bulkers makes up about 4.4% of Raynor Geoffrey’s holdings, making the stock its 4th biggest holding. Raynor Geoffrey owned approximately 0.39% of Scorpio Bulkers worth $2,207,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SALT. Wells Fargo & Company MN boosted its stake in shares of Scorpio Bulkers by 26.6% in the 2nd quarter. Wells Fargo & Company MN now owns 55,957 shares of the shipping company’s stock valued at $398,000 after purchasing an additional 11,750 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Scorpio Bulkers by 5.5% in the 2nd quarter. Northern Trust Corp now owns 532,847 shares of the shipping company’s stock valued at $3,783,000 after purchasing an additional 27,871 shares in the last quarter. Vanguard Group Inc. boosted its position in Scorpio Bulkers by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 122,836 shares of the shipping company’s stock valued at $872,000 after buying an additional 2,242 shares during the period. Voya Investment Management LLC boosted its position in Scorpio Bulkers by 27.2% during the 2nd quarter. Voya Investment Management LLC now owns 25,660 shares of the shipping company’s stock valued at $182,000 after buying an additional 5,493 shares during the period. Finally, State Street Corp boosted its position in Scorpio Bulkers by 10.5% during the 2nd quarter. State Street Corp now owns 924,007 shares of the shipping company’s stock valued at $6,558,000 after buying an additional 88,156 shares during the period. 37.07% of the stock is owned by institutional investors.
Scorpio Bulkers Inc (NYSE SALT) opened at $7.60 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.41 and a quick ratio of 1.35. The stock has a market cap of $586.27, a PE ratio of -9.16 and a beta of 3.18. Scorpio Bulkers Inc has a 12 month low of $5.70 and a 12 month high of $10.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.05%. Scorpio Bulkers’s payout ratio is -4.82%.
Several equities research analysts have weighed in on SALT shares. Jefferies Group started coverage on shares of Scorpio Bulkers in a research report on Monday, December 18th. They set a “buy” rating and a $14.00 price target for the company. Noble Financial started coverage on shares of Scorpio Bulkers in a research report on Friday, January 12th. They set a “buy” rating and a $10.00 price target for the company. Zacks Investment Research raised shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Thursday, January 25th. Morgan Stanley dropped their price target on shares of Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, ValuEngine cut shares of Scorpio Bulkers from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Scorpio Bulkers presently has an average rating of “Hold” and an average price target of $10.21.
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Scorpio Bulkers Company Profile
Scorpio Bulkers Inc is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT.
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