Bank of New York Mellon Corp Lowers Position in Dorian LPG Ltd. (NYSE:LPG)

Bank of New York Mellon Corp lowered its position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,326 shares of the shipping company's stock after selling 9,091 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Dorian LPG worth $6,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LPG. Heck Capital Advisors LLC acquired a new stake in shares of Dorian LPG during the 4th quarter worth approximately $37,000. Quarry LP boosted its position in shares of Dorian LPG by 155.3% during the 4th quarter. Quarry LP now owns 2,035 shares of the shipping company's stock worth $50,000 after purchasing an additional 1,238 shares during the period. GAMMA Investing LLC boosted its position in shares of Dorian LPG by 50.4% during the 1st quarter. GAMMA Investing LLC now owns 3,299 shares of the shipping company's stock worth $74,000 after purchasing an additional 1,105 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Dorian LPG during the 4th quarter worth approximately $118,000. Finally, PharVision Advisers LLC purchased a new position in shares of Dorian LPG during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Dorian LPG Stock Down 1.8%

Shares of LPG traded down $0.53 during midday trading on Friday, reaching $29.00. The stock had a trading volume of 287,505 shares, compared to its average volume of 559,911. The company's fifty day simple moving average is $24.96 and its two-hundred day simple moving average is $23.19. Dorian LPG Ltd. has a 1-year low of $16.66 and a 1-year high of $42.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.54 and a quick ratio of 3.52. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 13.43 and a beta of 0.77.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The shipping company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. Dorian LPG had a net margin of 25.52% and a return on equity of 8.88%. The firm had revenue of $75.89 million for the quarter, compared to analyst estimates of $79.04 million. During the same period last year, the business earned $1.91 EPS. Dorian LPG's revenue for the quarter was down 46.3% compared to the same quarter last year. Equities research analysts expect that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.50 per share. This represents a yield of 13.5%. The ex-dividend date was Friday, May 16th.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Jefferies Financial Group raised their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th.

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.