Pekin Hardy Strauss Inc. raised its stake in Natural Resource Partners L.P. (NYSE:NRP – Free Report) by 7.5% during the third quarter, Holdings Channel reports. The fund owned 17,950 shares of the energy company’s stock after buying an additional 1,260 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Natural Resource Partners were worth $1,756,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of NRP. Northwestern Mutual Wealth Management Co. purchased a new position in Natural Resource Partners in the second quarter valued at approximately $34,000. Covestor Ltd bought a new stake in shares of Natural Resource Partners in the third quarter valued at $60,000. Exchange Traded Concepts LLC lifted its position in shares of Natural Resource Partners by 14.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,322 shares of the energy company’s stock valued at $716,000 after buying an additional 898 shares during the last quarter. Stokes Family Office LLC grew its stake in shares of Natural Resource Partners by 17.8% during the 2nd quarter. Stokes Family Office LLC now owns 6,625 shares of the energy company’s stock worth $594,000 after acquiring an additional 1,000 shares during the period. Finally, Meixler Investment Management Ltd. increased its holdings in Natural Resource Partners by 6.3% in the 2nd quarter. Meixler Investment Management Ltd. now owns 33,455 shares of the energy company’s stock worth $2,999,000 after acquiring an additional 1,975 shares during the last quarter. 31.77% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Natural Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 17th.
Natural Resource Partners Stock Down 0.7 %
NRP opened at $105.98 on Friday. Natural Resource Partners L.P. has a 12 month low of $74.93 and a 12 month high of $113.04. The company has a market cap of $1.37 billion, a PE ratio of 8.53 and a beta of 0.50. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $99.30 and a 200 day moving average of $93.54.
Natural Resource Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 19th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, November 19th. Natural Resource Partners’s dividend payout ratio (DPR) is presently 24.14%.
About Natural Resource Partners
Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. It operates in two segments, Mineral Rights and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources. Its coal reserves are primarily located in the Appalachia Basin, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties located in the United States; and oil and gas properties located in Louisiana.
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