207,907 Shares in BW LPG Limited $BWLP Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio purchased 207,907 BW LPG shares worth approximately $3.63 million, representing about 0.14% of the company. Several other institutional investors also increased or initiated positions.
• Analyst sentiment remains generally positive, with three Buy ratings and two Hold ratings, giving BW LPG an overall “Moderate Buy” consensus despite some recent upgrades and downgrades.
• BW LPG’s shares opened at $24.57, near their 12-month high, while quarterly EPS of $0.79 missed estimates. The company raised its quarterly dividend to $8.8914 per share, implying an unusually high annualized yield of 144.8%.

Public Employees Retirement System of Ohio bought a new stake in BW LPG Limited (NYSE:BWLP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 207,907 shares of the company's stock, valued at approximately $3,626,000. Public Employees Retirement System of Ohio owned about 0.14% of BW LPG at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BWLP. Royal Bank of Canada grew its holdings in shares of BW LPG by 4,137.5% during the first quarter. Royal Bank of Canada now owns 23,476 shares of the company's stock worth $255,000 after buying an additional 22,922 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of BW LPG by 14.0% during the first quarter. Jane Street Group LLC now owns 51,463 shares of the company's stock valued at $558,000 after buying an additional 6,331 shares during the period. JPMorgan Chase & Co. boosted its position in BW LPG by 26.2% during the second quarter. JPMorgan Chase & Co. now owns 8,435 shares of the company's stock worth $100,000 after acquiring an additional 1,749 shares during the last quarter. Quantbot Technologies LP purchased a new stake in BW LPG in the 2nd quarter worth approximately $98,000. Finally, StoneX Group Inc. purchased a new stake in BW LPG in the 2nd quarter worth approximately $190,000.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen downgraded BW LPG from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Pareto Securities downgraded BW LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. Clarkson Capital raised BW LPG from a "neutral" rating to a "buy" rating in a research note on Thursday, August 20th. Weiss Ratings upgraded BW LPG from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 15th. Finally, Dnb Carnegie raised shares of BW LPG from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

BW LPG Price Performance

BWLP stock opened at $24.57 on Friday. The stock has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $19.64. BW LPG Limited has a 12-month low of $11.72 and a 12-month high of $25.48. The company has a current ratio of 1.44, a quick ratio of 1.29 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.72 billion, a PE ratio of 8.36 and a beta of 0.99.

BW LPG (NYSE:BWLP - Get Free Report) last announced its quarterly earnings results on Saturday, August 29th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.38). The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $318.01 million. BW LPG had a return on equity of 22.48% and a net margin of 12.64%.

BW LPG Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 8th will be given a dividend of $8.8914 per share. This is a boost from BW LPG's previous quarterly dividend of $6.20. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $35.57 dividend on an annualized basis and a yield of 144.8%. BW LPG's dividend payout ratio is currently 91.16%.

BW LPG Profile

BW LPG NYSE: BWLP is a pure‐play owner and operator of liquefied petroleum gas (LPG) carriers. The company's core business centers on the maritime transportation of LPG, predominantly propane and butane, under both time‐ and voyage‐charter arrangements. Its fleet comprises pressurized and semi‐refrigerated vessels designed to meet the specific requirements of LPG producers, traders and end‐users around the world.

Headquartered in Singapore, BW LPG serves a global customer base, with commercial offices in key energy hubs including Houston, London, Dubai and Tokyo.

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