Barclays PLC Lowers Holdings in Scorpio Bulkers Inc (NYSE:SALT)

Barclays PLC reduced its stake in Scorpio Bulkers Inc (NYSE:SALT) by 37.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,578 shares of the shipping company’s stock after selling 8,846 shares during the quarter. Barclays PLC’s holdings in Scorpio Bulkers were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Cutler Group LP lifted its holdings in shares of Scorpio Bulkers by 170.5% in the 4th quarter. Cutler Group LP now owns 9,884 shares of the shipping company’s stock valued at $54,000 after buying an additional 23,900 shares during the period. Sippican Capital Advisors lifted its holdings in shares of Scorpio Bulkers by 12.7% in the 4th quarter. Sippican Capital Advisors now owns 24,145 shares of the shipping company’s stock valued at $134,000 after buying an additional 2,721 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Scorpio Bulkers in the 3rd quarter valued at approximately $285,000. Rhumbline Advisers lifted its holdings in shares of Scorpio Bulkers by 44.8% in the 4th quarter. Rhumbline Advisers now owns 83,071 shares of the shipping company’s stock valued at $459,000 after buying an additional 25,682 shares during the period. Finally, Vanguard Group Inc lifted its holdings in shares of Scorpio Bulkers by 10.2% in the 3rd quarter. Vanguard Group Inc now owns 141,235 shares of the shipping company’s stock valued at $1,024,000 after buying an additional 13,025 shares during the period. Institutional investors own 37.97% of the company’s stock.

SALT stock traded up $0.17 during midday trading on Friday, hitting $5.53. 536,609 shares of the stock were exchanged, compared to its average volume of 436,654. The stock has a market cap of $393.83 million, a PE ratio of -184.33 and a beta of 2.32. Scorpio Bulkers Inc has a fifty-two week low of $3.57 and a fifty-two week high of $7.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.53 and a current ratio of 0.43.

Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings data on Monday, April 29th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.24. The firm had revenue of $50.40 million during the quarter, compared to analysts’ expectations of $49.25 million. Scorpio Bulkers had a positive return on equity of 0.92% and a negative net margin of 4.36%. Scorpio Bulkers’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, equities research analysts predict that Scorpio Bulkers Inc will post -0.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, May 14th. Scorpio Bulkers’s payout ratio is -266.67%.

Several analysts have recently commented on the company. Zacks Investment Research raised Scorpio Bulkers from a “strong sell” rating to a “hold” rating in a report on Wednesday. ValuEngine cut Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Tuesday. Noble Financial set a $9.00 price objective on Scorpio Bulkers and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, B. Riley set a $8.00 price objective on Scorpio Bulkers and gave the stock a “buy” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $9.14.

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About Scorpio Bulkers

Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.

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Institutional Ownership by Quarter for Scorpio Bulkers (NYSE:SALT)

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