5 High Dividend Stocks with Over 12% Yield

4. Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)

Dividend Yield: 20.17%

Number of Hedge Fund Holders: 10

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) is an international shipping company that owns a range of dry bulk carriers and tankers, and operates primarily in the dry bulk segment, in addition to transporting petroleum products such as petrol, diesel, jet fuel, naphtha, and heavy fuel oil. Headquartered in Singapore, Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) also operates out of Durban, South Africa and London, England. 

On November 17, Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) announced earnings for the quarter ending September 30. EPS for the period amounted to $2.28, exceeding estimates by $0.19. Revenue for the third quarter equaled $135.14 million, beating estimates by $19.06 million. 

Jefferies analyst Randy Giveans on October 28 initiated coverage of Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) with a Buy rating and a $20 price target. The analyst stated that the dry bulk shipping industry has an attractive outlook and Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) has “a fortress balance sheet,”, with shares trading at a 35% discount to net asset value.

10 hedge funds monitored by Insider Monkey in the third quarter reported owning stakes in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), with total stakes worth $27.6 million. This is an increase as compared to the preceding quarter, when 2 hedge funds were long Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), with a total stake value of $13.2 million.