5 Undervalued Dividend Stocks with Over 10% Yield

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

Dividend Yield as of May 13: 12.58%

Number of Hedge Fund Holders: 12

P/E Ratio as of May 13: 4.49

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) is a Connecticut-based transporter of dry bulk cargoes via ocean and sea. The company moves iron ore, coal, grains, fertilizers, steel, petcoke, cement, and forest products. Eagle Bulk Shipping Inc. (NASDAQ:EGLE)’s dividend yield on May 13 stood at 12.58%. Eagle Bulk Shipping Inc. (NASDAQ:EGLE) declared on May 12 a $2.00 per share quarterly dividend, which is payable on May 25, to shareholders of the company as of May 16.

On May 5, Eagle Bulk Shipping Inc. (NASDAQ:EGLE) reported earnings for the first quarter of 2022. The company posted an EPS of $4.97, beating market estimates by $0.46. The revenue of $140.77 million jumped 101.22% year-over-year, outperforming analysts’ predictions by $10.85 million. 

H.C. Wainwright analyst Magnus Fyhr on May 9 reiterated a Buy recommendation on Eagle Bulk Shipping Inc. (NASDAQ:EGLE) and raised the price target on the stock to $90 from $80. The analyst contended that the company reported “strong fixtures” for Q2 and trades at an attractive valuation.

According to the fourth quarter database of Insider Monkey, 12 hedge funds were long Eagle Bulk Shipping Inc. (NASDAQ:EGLE), compared to 13 funds in the last quarter. The total stakes owned in Q4 exceeded $203 million. Howard Marks’ Oaktree Capital Management is the largest shareholder of the company, with 3.78 million shares worth $172 million.