Bank of America Corp DE decreased its stake in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 33.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,053 shares of the shipping company's stock after selling 20,852 shares during the period. Bank of America Corp DE owned approximately 0.10% of Dorian LPG worth $1,000,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Beacon Capital Management LLC boosted its holdings in Dorian LPG by 61.1% in the fourth quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock valued at $27,000 after purchasing an additional 428 shares during the last quarter. Quarry LP boosted its holdings in Dorian LPG by 155.3% in the fourth quarter. Quarry LP now owns 2,035 shares of the shipping company's stock valued at $50,000 after purchasing an additional 1,238 shares during the last quarter. KBC Group NV boosted its holdings in Dorian LPG by 84.6% in the fourth quarter. KBC Group NV now owns 2,075 shares of the shipping company's stock valued at $51,000 after purchasing an additional 951 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Dorian LPG in the fourth quarter valued at about $118,000. Finally, SBI Securities Co. Ltd. purchased a new position in Dorian LPG in the fourth quarter valued at about $135,000. Hedge funds and other institutional investors own 62.50% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st.
Read Our Latest Report on Dorian LPG
Dorian LPG Stock Up 2.3%
NYSE LPG traded up $0.51 on Wednesday, hitting $23.08. 460,534 shares of the stock traded hands, compared to its average volume of 698,660. The stock has a 50-day moving average of $21.40 and a 200 day moving average of $22.64. Dorian LPG Ltd. has a twelve month low of $16.66 and a twelve month high of $43.85. The company has a market capitalization of $986.62 million, a P/E ratio of 5.87 and a beta of 0.74. The company has a current ratio of 3.97, a quick ratio of 3.95 and a debt-to-equity ratio of 0.48.
Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. Dorian LPG had a return on equity of 15.14% and a net margin of 38.51%. The firm had revenue of $75.89 million for the quarter, compared to analysts' expectations of $79.04 million. During the same quarter in the prior year, the firm posted $1.91 earnings per share. Dorian LPG's revenue for the quarter was down 46.3% compared to the same quarter last year. As a group, analysts expect that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.
Dorian LPG Cuts Dividend
The business also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $0.50 per share. This represents a dividend yield of 13.5%. The ex-dividend date was Friday, May 16th. Dorian LPG's payout ratio is 46.30%.
Insider Transactions at Dorian LPG
In other Dorian LPG news, CEO John C. Hadjipateras bought 12,500 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $221,875.00. Following the transaction, the chief executive officer now directly owns 1,824,386 shares in the company, valued at $32,382,851.50. The trade was a 0.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.40% of the company's stock.
About Dorian LPG
(
Free Report)
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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