California Public Employees Retirement System Sells 12,800 Shares of Capital Product Partners L.P. (NASDAQ:CPLP)

California Public Employees Retirement System cut its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,600 shares of the shipping company’s stock after selling 12,800 shares during the period. California Public Employees Retirement System owned 0.24% of Capital Product Partners L.P. worth $1,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Stifel Financial Corp raised its position in Capital Product Partners L.P. by 31.4% in the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock worth $100,000 after buying an additional 6,696 shares in the last quarter. Nine Chapters Capital Management LLC bought a new position in Capital Product Partners L.P. during the first quarter worth $117,000. Acadian Asset Management LLC bought a new position in Capital Product Partners L.P. during the first quarter worth $220,000. Private Advisor Group LLC raised its position in Capital Product Partners L.P. by 174.8% in the first quarter. Private Advisor Group LLC now owns 76,901 shares of the shipping company’s stock worth $265,000 after buying an additional 48,918 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Capital Product Partners L.P. by 5.0% in the first quarter. Wells Fargo & Company MN now owns 94,464 shares of the shipping company’s stock worth $337,000 after buying an additional 4,498 shares in the last quarter. Institutional investors own 18.67% of the company’s stock.

Capital Product Partners L.P. (NASDAQ CPLP) traded up 2.60% on Friday, hitting $3.55. The stock had a trading volume of 693,719 shares. Capital Product Partners L.P. has a 1-year low of $2.73 and a 1-year high of $4.00.

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings results on Friday, July 28th. The shipping company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.02. The company had revenue of $62.06 million during the quarter, compared to analysts’ expectations of $59.47 million. Capital Product Partners L.P. had a return on equity of 4.95% and a net margin of 18.20%. Analysts forecast that Capital Product Partners L.P. will post $0.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Thursday, August 3rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.32 annualized dividend and a dividend yield of 9.01%. Capital Product Partners L.P.’s payout ratio is currently 106.67%.

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A number of research analysts have recently weighed in on the company. UBS AG restated a “neutral” rating and issued a $4.00 target price (down previously from $4.50) on shares of Capital Product Partners L.P. in a report on Thursday, August 3rd. BidaskClub lowered Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, TheStreet lowered Capital Product Partners L.P. from a “b-” rating to a “c” rating in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Capital Product Partners L.P. presently has a consensus rating of “Hold” and a consensus target price of $4.40.

Capital Product Partners L.P. Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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Institutional Ownership by Quarter for Capital Product Partners L.P. (NASDAQ:CPLP)

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