Invesco Ltd. Sells 91,705 Shares of Dorian LPG Ltd. $LPG

Key Points

• Invesco Ltd. has reduced its stake in Dorian LPG by 20.6%, selling 91,705 shares and leaving it with 354,511 shares valued at approximately $7.92 million.
• Several institutional investors, including Charles Schwab Investment Management and PNC Financial Services, have increased their positions in Dorian LPG during the first quarter of this year.
• Dorian LPG announced a quarterly dividend of $0.60 per share, with a yield of 7.6%, set to be paid on August 27th to investors of record on August 12th.

Invesco Ltd. lowered its holdings in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 354,511 shares of the shipping company's stock after selling 91,705 shares during the period. Invesco Ltd. owned about 0.83% of Dorian LPG worth $7,920,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank grew its holdings in Dorian LPG by 5.2% in the 1st quarter. Swiss National Bank now owns 78,785 shares of the shipping company's stock worth $1,760,000 after acquiring an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Dorian LPG by 10.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,771 shares of the shipping company's stock worth $12,974,000 after acquiring an additional 56,432 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Dorian LPG by 78.9% in the 1st quarter. Atria Wealth Solutions Inc. now owns 62,659 shares of the shipping company's stock worth $1,400,000 after acquiring an additional 27,628 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Dorian LPG by 112.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,540 shares of the shipping company's stock worth $79,000 after acquiring an additional 1,870 shares during the last quarter. Finally, Moors & Cabot Inc. grew its holdings in Dorian LPG by 3.1% in the 1st quarter. Moors & Cabot Inc. now owns 16,308 shares of the shipping company's stock worth $364,000 after acquiring an additional 495 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LPG. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a 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 stock a "buy" rating in a report on Friday, July 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $35.00.

Dorian LPG Trading Down 1.1%

NYSE:LPG opened at $31.74 on Tuesday. The company has a 50-day moving average price of $28.21 and a 200-day moving average price of $23.97. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $39.35. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 27.60 and a beta of 0.77.

Dorian LPG (NYSE:LPG - Get Free Report) last posted 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). Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The company had revenue of $84.21 million during the quarter, compared to analysts' expectations of $86.53 million. During the same period in the prior year, the business posted $1.26 earnings per share. The company's revenue for the quarter was down 26.3% on a year-over-year basis. Equities analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.6%.

Dorian LPG 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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