Russell Investments Group Ltd. Sells 51,899 Shares of BW LPG Limited $BWLP

Key Points

• Russell Investments Group Ltd. significantly cut its holdings in BW LPG Limited by 87.9%, selling 51,899 shares and leaving it with 7,174 shares valued at $78,000.
• BW LPG Limited reported earnings per share of $0.23, which was below analysts' expectations of $0.26, with quarterly revenue of $153 million compared to forecasts of $170.09 million.
• The company also declared a quarterly dividend of $0.22 per share, resulting in an annualized yield of 5.8% and a payout ratio of 72.73%.

Russell Investments Group Ltd. cut its stake in shares of BW LPG Limited (NYSE:BWLP - Free Report) by 87.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,174 shares of the company's stock after selling 51,899 shares during the period. Russell Investments Group Ltd.'s holdings in BW LPG were worth $78,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BWLP. Vanguard Group Inc. raised its holdings in shares of BW LPG by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 3,391,944 shares of the company's stock worth $36,915,000 after purchasing an additional 239,578 shares during the period. Citadel Advisors LLC bought a new stake in shares of BW LPG during the 4th quarter valued at $1,231,000. Nuveen LLC bought a new stake in shares of BW LPG during the 1st quarter valued at $907,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BW LPG by 10.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 793,239 shares of the company's stock worth $8,751,000 after acquiring an additional 75,699 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of BW LPG by 202.4% in the 4th quarter. Two Sigma Investments LP now owns 113,018 shares of the company's stock valued at $1,284,000 after purchasing an additional 75,647 shares in the last quarter.

BW LPG Price Performance

NYSE:BWLP traded up $0.26 during trading hours on Monday, reaching $15.53. 242,434 shares of the company were exchanged, compared to its average volume of 431,795. BW LPG Limited has a twelve month low of $7.86 and a twelve month high of $16.60. The firm has a market cap of $2.04 billion and a PE ratio of 10.08. The stock's 50-day moving average is $14.06 and its 200-day moving average is $11.93. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 0.45.

BW LPG (NYSE:BWLP - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.03). BW LPG had a net margin of 6.09% and a return on equity of 11.70%. The firm had revenue of $153.00 million during the quarter, compared to analyst estimates of $170.09 million.

BW LPG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.7%. BW LPG's payout ratio is 57.14%.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.