Sunbelt Securities Inc. bought a new stake in shares of Capital Product Partners L.P. (NASDAQ:CPLP) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,933 shares of the shipping company’s stock, valued at approximately $160,000. Sunbelt Securities Inc. owned about 0.08% of Capital Product Partners at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its position in Capital Product Partners by 410.5% in the 2nd quarter. Wells Fargo & Company MN now owns 9,316 shares of the shipping company’s stock worth $98,000 after purchasing an additional 7,491 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Capital Product Partners during the 2nd quarter worth about $110,000. HighTower Advisors LLC bought a new position in shares of Capital Product Partners during the 2nd quarter worth about $230,000. Royal Bank of Canada raised its position in shares of Capital Product Partners by 494.9% during the second quarter. Royal Bank of Canada now owns 23,593 shares of the shipping company’s stock valued at $248,000 after buying an additional 19,627 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Capital Product Partners by 731.0% during the second quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock valued at $293,000 after buying an additional 24,497 shares during the last quarter. Hedge funds and other institutional investors own 20.07% of the company’s stock.
Several research firms recently weighed in on CPLP. TheStreet upgraded shares of Capital Product Partners from a “d+” rating to a “c-” rating in a research note on Monday, October 14th. ValuEngine upgraded Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research cut Capital Product Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.67.
Capital Product Partners (NASDAQ:CPLP) last issued its earnings results on Thursday, October 31st. The shipping company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.22). Capital Product Partners had a positive return on equity of 6.40% and a negative net margin of 73.89%. The firm had revenue of $25.71 million during the quarter, compared to the consensus estimate of $26.22 million. On average, research analysts anticipate that Capital Product Partners L.P. will post 0.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 10.83%. The ex-dividend date was Thursday, October 31st. Capital Product Partners’s dividend payout ratio is 128.57%.
About Capital Product Partners
Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.
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