Allspring Global Investments Holdings LLC Buys 2,882 Shares of Dorian LPG Ltd. (NYSE:LPG)

Allspring Global Investments Holdings LLC increased its position in Dorian LPG Ltd. (NYSE:LPG) by 48.9% during the 2nd quarter, Holdings Channel reports. The firm owned 8,773 shares of the shipping company’s stock after acquiring an additional 2,882 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dorian LPG were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Dorian LPG by 8.2% during the 3rd quarter. BlackRock Inc. now owns 5,263,675 shares of the shipping company’s stock worth $71,427,000 after purchasing an additional 400,804 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Dorian LPG by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,240,874 shares of the shipping company’s stock valued at $64,622,000 after acquiring an additional 341,453 shares during the period. State Street Corp lifted its position in shares of Dorian LPG by 8.7% during the 1st quarter. State Street Corp now owns 1,313,316 shares of the shipping company’s stock valued at $26,188,000 after buying an additional 105,059 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Dorian LPG by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,006,993 shares of the shipping company’s stock valued at $13,665,000 after buying an additional 46,925 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Dorian LPG by 32.6% during the 1st quarter. JPMorgan Chase & Co. now owns 799,380 shares of the shipping company’s stock valued at $11,583,000 after buying an additional 196,749 shares in the last quarter. Institutional investors own 64.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group lowered Dorian LPG from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Thursday, August 3rd. StockNews.com raised shares of Dorian LPG from a “hold” rating to a “buy” rating in a research note on Sunday, November 5th. Finally, Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and boosted their price target for the company from $27.00 to $35.00 in a research note on Monday, October 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.58.

Dorian LPG Stock Up 2.3 %

Shares of NYSE:LPG opened at $36.19 on Monday. The stock has a market cap of $1.47 billion, a P/E ratio of 5.72 and a beta of 1.12. The firm has a fifty day moving average price of $30.38 and a 200 day moving average price of $26.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.63 and a quick ratio of 2.61. Dorian LPG Ltd. has a 1-year low of $15.81 and a 1-year high of $39.15.

Dorian LPG Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Thursday, November 2nd. Investors of record on Friday, October 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, October 19th. Dorian LPG’s dividend payout ratio is currently 47.39%.

Insider Buying and Selling

In other Dorian LPG news, CFO Theodore B. Young sold 5,000 shares of Dorian LPG stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $29.13, for a total value of $145,650.00. Following the sale, the chief financial officer now owns 103,720 shares of the company’s stock, valued at approximately $3,021,363.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tim Truels Hansen sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $37.61, for a total transaction of $940,250.00. Following the sale, the insider now owns 186,866 shares of the company’s stock, valued at approximately $7,028,030.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Theodore B. Young sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $29.13, for a total value of $145,650.00. Following the sale, the chief financial officer now directly owns 103,720 shares in the company, valued at approximately $3,021,363.60. The disclosure for this sale can be found here. 15.90% of the stock is owned by company insiders.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.