Bank of America Corp DE Sells 32,812 Shares of Dorian LPG Ltd. $LPG

Bank of America Corp DE lessened its stake in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,923 shares of the shipping company's stock after selling 32,812 shares during the quarter. Bank of America Corp DE owned approximately 0.41% of Dorian LPG worth $6,017,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LPG. Arrowstreet Capital Limited Partnership bought a new position in shares of Dorian LPG during the 1st quarter worth $11,929,000. AQR Capital Management LLC boosted its position in Dorian LPG by 236.7% during the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company's stock worth $10,373,000 after purchasing an additional 299,107 shares during the period. Vanguard Group Inc. increased its stake in shares of Dorian LPG by 12.4% in the fourth quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company's stock worth $45,635,000 after purchasing an additional 207,575 shares in the last quarter. Millennium Management LLC increased its stake in shares of Dorian LPG by 55.8% in the third quarter. Millennium Management LLC now owns 572,315 shares of the shipping company's stock worth $17,055,000 after purchasing an additional 204,861 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Dorian LPG by 375.8% in the third quarter. Two Sigma Investments LP now owns 258,243 shares of the shipping company's stock valued at $7,696,000 after purchasing an additional 203,966 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

LPG has been the topic of a number of analyst reports. Freedom Capital raised shares of Dorian LPG from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Jefferies Financial Group lifted their price target on Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Finally, Dnb Carnegie upgraded Dorian LPG from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Dorian LPG currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Insider Transactions at Dorian LPG

In other news, insider Tim Truels Hansen sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $45.04, for a total value of $1,126,000.00. Following the completion of the transaction, the insider directly owned 157,675 shares in the company, valued at approximately $7,101,682. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.50% of the stock is currently owned by company insiders.

Dorian LPG Stock Performance

Shares of LPG opened at $47.88 on Thursday. Dorian LPG Ltd. has a 12-month low of $23.76 and a 12-month high of $52.10. The company has a current ratio of 3.26, a quick ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.05 billion, a PE ratio of 6.34 and a beta of 0.65. The stock has a 50-day moving average price of $42.94 and a 200-day moving average price of $39.25.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The shipping company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.40. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The business had revenue of $187.88 million for the quarter, compared to the consensus estimate of $160.78 million. During the same period last year, the firm posted $0.27 earnings per share. Dorian LPG's quarterly revenue was up 123.1% on a year-over-year basis.

Dorian LPG Announces Dividend

The company also recently declared a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were given a dividend of $1.00 per share. The ex-dividend date was Monday, July 27th.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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