5 Undervalued Dividend Stocks with Over 10% Yield

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

Dividend Yield as of May 13: 11.94%

Number of Hedge Fund Holders: 5

P/E Ratio as of May 13: 3.93

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) is a Singapore-based international shipping company that owns and operates a fleet of dry bulk carriers and tankers worldwide. Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)’s dividend yield on May 13 stood at 11.94%. 

On March 9, Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) declared a $0.72 per share quarterly dividend, in line with previous. The dividend was distributed on March 22, to shareholders of the company as of March 11. 

Jefferies analyst Christopher Robertson reinstated coverage of Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) on April 27 with a Buy rating, raising the price target to $26 from $24. The analyst noted that the Jefferies shipping index is up about 25% year-to-date, primarily due to the recent equity performance in the dry bulk and tanker space. He remains optimistic about supply-side marine shipping fundamentals as he reinstated coverage of the sector at the firm.

According to the fourth quarter database of Insider Monkey, 5 hedge funds were long Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), holding stakes in the company worth about $11 million.