Invesco Ltd. Cuts Holdings in SEASPAN CORP/SH SH (NYSE:SSW)

Invesco Ltd. trimmed its holdings in shares of SEASPAN CORP/SH SH (NYSE:SSW) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 472,068 shares of the shipping company’s stock after selling 20,186 shares during the period. Invesco Ltd. owned about 0.22% of SEASPAN CORP/SH SH worth $4,631,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SSW. Punch & Associates Investment Management Inc. raised its stake in shares of SEASPAN CORP/SH SH by 7.5% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 964,970 shares of the shipping company’s stock worth $8,395,000 after buying an additional 67,401 shares in the last quarter. First National Bank of Omaha purchased a new position in shares of SEASPAN CORP/SH SH during the 2nd quarter worth approximately $186,000. Manchester Financial Inc. purchased a new position in shares of SEASPAN CORP/SH SH during the 2nd quarter worth approximately $26,000. Virginia Retirement Systems ET AL purchased a new position in shares of SEASPAN CORP/SH SH during the 2nd quarter worth approximately $98,000. Finally, First Trust Advisors LP raised its stake in shares of SEASPAN CORP/SH SH by 562.7% during the 2nd quarter. First Trust Advisors LP now owns 86,302 shares of the shipping company’s stock worth $847,000 after buying an additional 73,279 shares in the last quarter. 46.59% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on SSW. BMO Capital Markets initiated coverage on SEASPAN CORP/SH SH in a research note on Wednesday, August 14th. They set a “market perform” rating and a $10.50 target price for the company. ValuEngine upgraded SEASPAN CORP/SH SH from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research upgraded SEASPAN CORP/SH SH from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.13.

SSW opened at $11.17 on Friday. The stock has a market cap of $2.41 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.20 and a beta of 0.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $10.76 and its 200 day simple moving average is $9.98. SEASPAN CORP/SH SH has a 1-year low of $7.05 and a 1-year high of $11.75.

SEASPAN CORP/SH SH (NYSE:SSW) last released its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $275.42 million for the quarter, compared to analysts’ expectations of $277.26 million. SEASPAN CORP/SH SH had a return on equity of 9.45% and a net margin of 40.70%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Research analysts expect that SEASPAN CORP/SH SH will post 0.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, October 21st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Friday, October 18th. SEASPAN CORP/SH SH’s dividend payout ratio is currently 40.98%.

SEASPAN CORP/SH SH Profile

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.

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Institutional Ownership by Quarter for SEASPAN CORP/SH SH (NYSE:SSW)

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