5 Best Shipping and Container Stocks to Buy Now

In this article, we will take a look at the 5 best shipping and container stocks to buy now. To read our analysis of the recent market trends, and market activity, you can go to the 10 Best Shipping and Container Stocks to Buy Now.

5. Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

Number of Hedge Fund Holders: 18

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) is a Stamford, Connecticut-based owner and operator of dry bulk vessels focused on the mid-size segment. Its fleet consists of 27 Ultramax vessels and 26 Supramax vessels, including an Ultramax vessel to be delivered to the company in Q4 2022.

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has a significantly more resilient top and bottom line mainly due to the nature of its fleet which belongs to the Ultramax and Supramax category of vessels. Due to their smaller size, these vessels are less exposed to rates volatility more commonly associated with Capesize vessels that are prone to changes in Chinese steel output.

In addition, the company benefits from lower operational costs for its fleet due to an average fleet age of 9.5 years and the fact that 48 of its vessels are scrubber-fitted which significantly lowers its fuel costs.

In October 2021, the board of directors of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) instituted a dividend program targeting a minimum payout equal to 30% of the net income. The quarterly dividend of $2.20 per share conforms to this program. Its shares had a dividend yield of 17.79%, as of October 17.

On October 10, B. Riley analyst Liam Burke lowered the price target on Eagle Bulk Shipping Inc. (NASDAQ:EGLE) shares to $72 from $82 and maintained a ‘Buy’ rating for the shares.

As of Q2 2022, 18 of the 895 hedge funds tracked by Insider Monkey owned shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE), valued at $253 million. Its largest shareholder was Howard Marks’ Oaktree Capital Management with ownership of 3.8 million shares valued at $196 million.