BW LPG (NYSE:BWLP) Sees Strong Trading Volume – Here’s Why

Shares of BW LPG Limited (NYSE:BWLP) saw unusually-strong trading volume on Wednesday . Approximately 176,479 shares traded hands during trading, a decline of 16% from the previous session’s volume of 211,182 shares.The stock last traded at $10.45 and had previously closed at $10.24.

BW LPG Price Performance

The firm’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $15.17. The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.15.

BW LPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 12th will be given a $0.42 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.68 annualized dividend and a yield of 16.05%.

Institutional Trading of BW LPG

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