Allspring Global Investments Holdings LLC Takes $6.44 Million Position in Dorian LPG Ltd. $LPG

Key Points

• Allspring Global Investments Holdings LLC has acquired a new stake in Dorian LPG Ltd., purchasing 264,073 shares valued at approximately $6.44 million.
• Dorian LPG has faced a significant year-over-year decline with a 26.3% decrease in revenue, reporting $84.21 million, and earnings per share missed consensus estimates at $0.27.
• The company announced a quarterly dividend of $0.60, yielding approximately 8.9%, as it continues to maintain a strong dividend payout despite recent financial challenges.

Allspring Global Investments Holdings LLC purchased a new stake in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 264,073 shares of the shipping company's stock, valued at approximately $6,438,000. Allspring Global Investments Holdings LLC owned 0.62% of Dorian LPG at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Dorian LPG during the 2nd quarter valued at approximately $29,000. NewEdge Advisors LLC lifted its position in shares of Dorian LPG by 1,003.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock valued at $32,000 after acquiring an additional 1,315 shares during the period. Brooklyn Investment Group lifted its position in shares of Dorian LPG by 2,087.8% during the 1st quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company's stock valued at $44,000 after acquiring an additional 1,879 shares during the period. Picton Mahoney Asset Management lifted its position in shares of Dorian LPG by 6,275.0% during the 1st quarter. Picton Mahoney Asset Management now owns 2,040 shares of the shipping company's stock valued at $46,000 after acquiring an additional 2,008 shares during the period. Finally, CWM LLC lifted its position in shares of Dorian LPG by 74.5% during the 1st 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 period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.60% of the company's stock.

Analyst Ratings Changes

LPG has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Dorian LPG in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price objective on Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Zacks Research downgraded Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Dorian LPG Stock Up 1.0%

LPG stock opened at $26.89 on Monday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 23.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32. Dorian LPG Ltd. has a one year low of $16.66 and a one year high of $33.33. The company has a 50 day moving average price of $30.29 and a two-hundred day moving average price of $26.21.

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

Dorian LPG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend was Tuesday, August 12th.

Dorian LPG Company Profile

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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