Pekin Hardy Strauss Inc. Buys 2,221,213 Shares of Diana Shipping Inc. (NYSE:DSX)

Pekin Hardy Strauss Inc. boosted its stake in Diana Shipping Inc. (NYSE:DSX) by 176.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,477,379 shares of the shipping company’s stock after purchasing an additional 2,221,213 shares during the quarter. Diana Shipping comprises about 0.9% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 26th largest holding. Pekin Hardy Strauss Inc. owned about 2.78% of Diana Shipping worth $6,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in shares of Diana Shipping in the third quarter worth about $176,000. Walleye Capital LLC increased its holdings in shares of Diana Shipping by 55.1% in the third quarter. Walleye Capital LLC now owns 48,067 shares of the shipping company’s stock worth $124,000 after acquiring an additional 17,067 shares in the last quarter. Mraz Amerine & Associates Inc. bought a new stake in shares of Diana Shipping in the fourth quarter worth about $66,000. XTX Topco Ltd bought a new stake in shares of Diana Shipping in the third quarter worth about $64,000. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in shares of Diana Shipping by 43.1% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 21,574 shares of the shipping company’s stock worth $42,000 after acquiring an additional 6,500 shares in the last quarter. Institutional investors own 48.68% of the company’s stock.

Diana Shipping Stock Down 0.8 %

DSX stock opened at $1.84 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.10 and a quick ratio of 2.04. The stock has a market capitalization of $229.65 million, a P/E ratio of 61.19 and a beta of 1.05. The business has a 50-day moving average of $1.86 and a 200-day moving average of $2.14. Diana Shipping Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $3.22.

Diana Shipping (NYSE:DSX) last posted its quarterly earnings data on Monday, November 25th. The shipping company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $57.50 million during the quarter, compared to analysts’ expectations of $55.50 million. Diana Shipping had a return on equity of 4.42% and a net margin of 5.36%. Diana Shipping’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share.

Diana Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.04 annualized dividend and a dividend yield of 2.18%. Diana Shipping’s dividend payout ratio is currently 133.38%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Diana Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th.

About Diana Shipping

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.