Capital Product Partners L.P. (NASDAQ:CPLP) Shares Sold by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. lessened its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 16.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,481,914 shares of the shipping company’s stock after selling 297,986 shares during the quarter. Donald Smith & CO. Inc. owned about 7.19% of Capital Product Partners worth $21,043,000 as of its most recent SEC filing.

Separately, Mirae Asset Global Investments Co. Ltd. raised its position in Capital Product Partners by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock valued at $2,936,000 after purchasing an additional 20,746 shares during the last quarter.

Capital Product Partners Trading Down 5.2 %

Shares of Capital Product Partners stock traded down $0.87 during trading hours on Monday, reaching $15.78. 27,996 shares of the company’s stock were exchanged, compared to its average volume of 124,076. Capital Product Partners L.P. has a 52-week low of $12.02 and a 52-week high of $18.85. The company has a fifty day moving average of $17.35 and a 200-day moving average of $15.92. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $325.07 million, a price-to-earnings ratio of 7.67 and a beta of 0.86.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). Capital Product Partners had a return on equity of 6.48% and a net margin of 13.09%. The firm had revenue of $92.50 million during the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter last year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Capital Product Partners L.P. will post 1.62 EPS for the current fiscal year.

Capital Product Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Monday, May 6th. Capital Product Partners’s dividend payout ratio is presently 27.65%.

Wall Street Analysts Forecast Growth

CPLP has been the subject of several analyst reports. Jefferies Financial Group downgraded Capital Product Partners from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $18.00 in a research note on Tuesday, February 27th. Stifel Nicolaus reduced their price objective on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, B. Riley upped their target price on Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.