Why Bank of Queensland, BWX, Sims, & Volpara shares dropped lower today

The Bank of Queensland Limited (ASX:BOQ) share price and the BWX Ltd (ASX:BWX) share price are two of four dropping notably lower today…

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The S&P/ASX 200 Index has failed to follow the lead of international markets on Thursday and has tumbled lower. In afternoon trade the benchmark index is down 0.4% to 6,199.2 points.

Four shares that have fallen more than most today are listed below. Here's why they have dropped lower:

The Bank of Queensland Limited (ASX: BOQ) share price has dropped 4% to $9.02 following the release of a weak half year result from the regional bank. Investors appear to have been left disappointed with its 8% decline in half year cash earnings and 10.5% cut to its interim dividend. In addition to this, management warned that the second half wasn't expected to be much better for the bank.

The BWX Ltd (ASX: BWX) share price has tumbled 5% to $2.36 despite there being no news out of the personal care products company. However, as I mentioned here yesterday, the BWX share price has rocketed higher over the last three months. This could have led to a spot of profit taking from investors today.

The Sims Metal Management Ltd (ASX: SGM) share price has continued its slide and is down a further 4% to $10.14. On Wednesday the scrap metal company revealed its medium term growth plans which include nearly doubling the non-ferrous business and growing the ferrous business by 40% in the United States within the next six years. Investors don't appear overly convinced with all aspects of the plan.

The Volpara Health Technologies Ltd (ASX: VHT) share price has fallen 4.5% to $1.80. I suspect this is down to profit taking from investors after an impressive share price rise earlier this week. In fact, the healthcare technology company's shares are still up 25% this week even after today's decline. A better than expected full year update was the catalyst for this rise.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended VOLPARA FPO NZ. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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