BW LPG (NYSE:BWLP) Shares Up 3.3% – Here’s Why

Shares of BW LPG Limited (NYSE:BWLP) were up 3.3% on Tuesday . The stock traded as high as $11.44 and last traded at $11.40. Approximately 123,937 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 220,723 shares. The stock had previously closed at $11.04.

BW LPG Stock Up 2.9 %

The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $12.16 and a 200-day moving average price of $14.56.

BW LPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 12th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.68 annualized dividend and a yield of 14.79%.

Institutional Investors Weigh In On BW LPG

Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of BW LPG in the 2nd quarter worth approximately $56,598,000. Assenagon Asset Management S.A. bought a new position in BW LPG in the 3rd quarter valued at $11,827,000. Skandinaviska Enskilda Banken AB publ acquired a new position in BW LPG in the second quarter worth $12,196,000. The Manufacturers Life Insurance Company bought a new stake in shares of BW LPG during the third quarter worth $5,653,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of BW LPG in the second quarter valued at $2,365,000.

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.