Allianz Asset Management GmbH Buys 52,857 Shares of Dorian LPG Ltd. $LPG

Key Points

• Allianz Asset Management GmbH has increased its stake in Dorian LPG Ltd. by 26.1%, acquiring an additional 52,857 shares, bringing its total to 255,675 shares worth approximately $6.23 million.
• Dorian LPG reported a net loss per share of $0.27 for the last quarter, significantly missing analysts' estimates of $0.61, with a year-over-year revenue decrease of 26.3%.
• The company declared a quarterly dividend of $0.60 per share, resulting in an annualized dividend yield of 8.8%, indicating strong returns for investors.

Allianz Asset Management GmbH increased its stake in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 26.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,675 shares of the shipping company's stock after buying an additional 52,857 shares during the quarter. Allianz Asset Management GmbH owned 0.60% of Dorian LPG worth $6,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LPG. GAMMA Investing LLC raised its stake in shares of Dorian LPG by 50.4% in the first quarter. GAMMA Investing LLC now owns 3,299 shares of the shipping company's stock valued at $74,000 after acquiring an additional 1,105 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Dorian LPG in the first quarter valued at approximately $297,000. Principal Financial Group Inc. raised its stake in shares of Dorian LPG by 2.4% in the first quarter. Principal Financial Group Inc. now owns 213,052 shares of the shipping company's stock valued at $4,760,000 after acquiring an additional 5,025 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Dorian LPG by 4.8% in the first quarter. Arizona State Retirement System now owns 11,664 shares of the shipping company's stock valued at $261,000 after acquiring an additional 532 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Dorian LPG by 74.5% in the first quarter. CWM LLC now owns 2,591 shares of the shipping company's stock valued at $58,000 after acquiring an additional 1,106 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Dorian LPG Stock Performance

LPG stock opened at $27.29 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.32 and a quick ratio of 3.30. The company has a 50 day moving average price of $30.09 and a 200 day moving average price of $26.29. Dorian LPG Ltd. has a fifty-two week low of $16.66 and a fifty-two week high of $32.79. The stock has a market capitalization of $1.16 billion, a PE ratio of 23.73 and a beta of 0.77.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.34). The company had revenue of $84.21 million during the quarter, compared to the consensus estimate of $86.53 million. Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The business's revenue for the quarter was down 26.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. Analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.8%.

Insider Activity at Dorian LPG

In related news, COO Alexander C. Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total transaction of $161,900.00. Following the completion of the sale, the chief operating officer directly owned 89,440 shares of the company's stock, valued at $2,896,067.20. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dorian LPG in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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