DNB Asset Management AS Cuts Stock Holdings in Himalaya Shipping Ltd. (NYSE:HSHP)

DNB Asset Management AS lowered its stake in Himalaya Shipping Ltd. (NYSE:HSHP) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 280,562 shares of the company’s stock after selling 20,895 shares during the quarter. DNB Asset Management AS owned about 0.70% of Himalaya Shipping worth $2,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in Himalaya Shipping during the first quarter valued at approximately $771,000. Kim LLC purchased a new stake in Himalaya Shipping in the fourth quarter worth $14,023,000. Russell Investments Group Ltd. bought a new stake in shares of Himalaya Shipping during the fourth quarter worth $214,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Himalaya Shipping during the fourth quarter valued at $70,000. Institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Stock Performance

Shares of NYSE HSHP traded up $0.01 during mid-day trading on Tuesday, reaching $7.28. The company had a trading volume of 57,352 shares, compared to its average volume of 101,495. Himalaya Shipping Ltd. has a 52 week low of $4.30 and a 52 week high of $9.76. The business’s 50-day moving average is $8.62 and its 200-day moving average is $8.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.62.

Himalaya Shipping (NYSE:HSHP) last issued its earnings results on Thursday, May 23rd. The company reported $0.06 EPS for the quarter. The company had revenue of $23.58 million during the quarter.

Himalaya Shipping Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th were issued a dividend of $0.05 per share. This is an increase from Himalaya Shipping’s previous monthly dividend of $0.04. This represents a $0.60 annualized dividend and a yield of 8.24%. The ex-dividend date was Friday, July 19th.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.