Northern Trust Corp increased its holdings in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,569 shares of the shipping company's stock after purchasing an additional 70,046 shares during the quarter. Northern Trust Corp owned 0.98% of Dorian LPG worth $10,201,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Dorian LPG by 20.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,127,317 shares of the shipping company's stock valued at $100,583,000 after acquiring an additional 711,313 shares during the period. American Century Companies Inc. raised its holdings in shares of Dorian LPG by 11.0% during the fourth quarter. American Century Companies Inc. now owns 1,352,071 shares of the shipping company's stock valued at $32,950,000 after acquiring an additional 134,289 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of Dorian LPG during the fourth quarter valued at approximately $2,838,000. Bank of New York Mellon Corp raised its holdings in shares of Dorian LPG by 27.0% during the fourth quarter. Bank of New York Mellon Corp now owns 299,417 shares of the shipping company's stock valued at $7,297,000 after acquiring an additional 63,613 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Dorian LPG by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 524,339 shares of the shipping company's stock valued at $12,778,000 after acquiring an additional 52,571 shares during the period. 62.50% of the stock is currently owned by institutional investors.
Dorian LPG Stock Up 7.0%
LPG traded up $1.42 on Friday, reaching $21.62. 1,162,102 shares of the company traded hands, compared to its average volume of 720,710. The stock's 50 day moving average price is $21.44 and its 200-day moving average price is $23.05. Dorian LPG Ltd. has a 52-week low of $16.66 and a 52-week high of $51.66. The company has a market cap of $925.21 million, a price-to-earnings ratio of 5.50 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.97 and a quick ratio of 3.95.
Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. The firm had revenue of $75.89 million for the quarter, compared to the consensus estimate of $79.04 million. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm's revenue was down 46.3% on a year-over-year basis. On average, sell-side analysts expect that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.
Dorian LPG Cuts Dividend
The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.50 per share. This represents a yield of 13.5%. The ex-dividend date of this dividend is Friday, May 16th. Dorian LPG's payout ratio is presently 25.45%.
Analyst Ratings Changes
LPG has been the topic of a number of recent analyst reports. Pareto Securities upgraded shares of Dorian LPG to a "buy" rating in a report on Tuesday, February 4th. Jefferies Financial Group restated a "buy" rating and set a $35.00 price target on shares of Dorian LPG in a report on Friday, January 31st.
Get Our Latest Report on Dorian LPG
Insider Activity at Dorian LPG
In related news, CEO John C. Hadjipateras acquired 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, with a total value of $221,875.00. Following the completion of the transaction, the chief executive officer now owns 1,824,386 shares of the company's stock, valued at approximately $32,382,851.50. This trade represents a 0.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 13.40% of the stock is currently owned by insiders.
Dorian LPG Company Profile
(
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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