Dorian LPG Ltd. (NYSE:LPG) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Dorian LPG Ltd. (NYSE:LPG) by 27.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,417 shares of the shipping company’s stock after purchasing an additional 63,613 shares during the period. Bank of New York Mellon Corp’s holdings in Dorian LPG were worth $7,297,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd increased its holdings in Dorian LPG by 20.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 32,917 shares of the shipping company’s stock valued at $802,000 after purchasing an additional 5,628 shares in the last quarter. Ieq Capital LLC acquired a new stake in Dorian LPG in the 4th quarter valued at $206,000. Atria Wealth Solutions Inc. grew its stake in shares of Dorian LPG by 18.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 35,031 shares of the shipping company’s stock valued at $854,000 after acquiring an additional 5,372 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Dorian LPG by 4.7% during the fourth quarter. Principal Financial Group Inc. now owns 208,027 shares of the shipping company’s stock valued at $5,070,000 after acquiring an additional 9,285 shares in the last quarter. Finally, Beacon Capital Management LLC grew its stake in shares of Dorian LPG by 61.1% during the fourth quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 428 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Stock Performance

Shares of LPG stock opened at $21.74 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.95 and a current ratio of 3.97. Dorian LPG Ltd. has a one year low of $19.36 and a one year high of $51.66. The company’s 50-day simple moving average is $23.21 and its 200-day simple moving average is $27.46. The stock has a market capitalization of $930.56 million, a price-to-earnings ratio of 5.53 and a beta of 0.87.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Friday, January 31st. The shipping company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. During the same quarter in the previous year, the business earned $2.62 EPS. Equities analysts anticipate 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 Thursday, February 27th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 5th. Dorian LPG’s payout ratio is 25.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LPG shares. Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of Dorian LPG in a research note on Friday, January 31st. Pareto Securities upgraded Dorian LPG to a “buy” rating in a research note on Tuesday, February 4th.

Dorian LPG Company 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.