15,000 Shares in Euroseas Ltd. $ESEA Acquired by North Star Investment Management Corp.

North Star Investment Management Corp. acquired a new position in Euroseas Ltd. (NASDAQ:ESEA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the shipping company’s stock, valued at approximately $819,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. increased its position in Euroseas by 1.3% during the third quarter. Raymond James Financial Inc. now owns 19,716 shares of the shipping company’s stock worth $1,175,000 after buying an additional 260 shares during the last quarter. Bank of America Corp DE increased its position in Euroseas by 387.8% during the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after buying an additional 888 shares during the last quarter. Quarry LP acquired a new position in Euroseas during the third quarter worth $89,000. Boston Partners increased its position in Euroseas by 14.5% during the third quarter. Boston Partners now owns 19,517 shares of the shipping company’s stock worth $1,163,000 after buying an additional 2,472 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC acquired a new position in Euroseas during the third quarter worth $205,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ESEA shares. Wall Street Zen downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Alliance Global Partners reaffirmed a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Euroseas Stock Down 1.1%

Shares of Euroseas stock opened at $70.01 on Friday. The stock has a market capitalization of $490.77 million, a P/E ratio of 3.57 and a beta of 0.73. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $67.08 and a two-hundred day moving average price of $60.28. Euroseas Ltd. has a 12-month low of $30.72 and a 12-month high of $74.75.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Thursday, February 26th. The shipping company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.01. The firm had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $57.83 million. Euroseas had a return on equity of 27.82% and a net margin of 60.11%. Equities analysts expect that Euroseas Ltd. will post 17.34 earnings per share for the current year.

Euroseas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is an increase from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 4.3%. Euroseas’s dividend payout ratio (DPR) is currently 15.29%.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.