American International Group Inc. Raises Stake in Dorian LPG Ltd. (NYSE:LPG)

American International Group Inc. grew its holdings in Dorian LPG Ltd. (NYSE:LPG) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,202 shares of the shipping company’s stock after buying an additional 362 shares during the period. American International Group Inc.’s holdings in Dorian LPG were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Barclays PLC boosted its stake in shares of Dorian LPG by 7.7% during the second quarter. Barclays PLC now owns 17,170 shares of the shipping company’s stock worth $440,000 after buying an additional 1,234 shares during the period. Optimum Investment Advisors acquired a new stake in shares of Dorian LPG during the second quarter worth about $59,000. Mackenzie Financial Corp acquired a new stake in shares of Dorian LPG during the second quarter worth about $630,000. Bank of Montreal Can acquired a new stake in shares of Dorian LPG in the 2nd quarter worth $802,000. Finally, Arizona State Retirement System acquired a new stake in shares of Dorian LPG in the 2nd quarter worth $233,000. Institutional investors and hedge funds own 64.01% of the company’s stock.

Dorian LPG Stock Performance

Shares of LPG stock opened at $39.09 on Friday. The stock has a fifty day moving average price of $31.37 and a 200 day moving average price of $27.28. The stock has a market cap of $1.59 billion, a PE ratio of 6.18 and a beta of 1.12. Dorian LPG Ltd. has a 1 year low of $15.81 and a 1 year high of $39.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.61 and a current ratio of 2.63.

Dorian LPG Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LPG shares. Pareto Securities upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $35.00 in a research note on Monday, October 16th. Jefferies Financial Group cut shares of Dorian LPG from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Thursday, August 3rd. Finally, StockNews.com downgraded Dorian LPG from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dorian LPG has an average rating of “Hold” and a consensus price target of $28.58.

Insider Buying and Selling

In related news, CFO Theodore B. Young sold 5,000 shares of Dorian LPG stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $29.13, for a total transaction of $145,650.00. Following the completion of the transaction, the chief financial officer now directly owns 103,720 shares of the company’s stock, valued at $3,021,363.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Tim Truels Hansen sold 25,000 shares of Dorian LPG 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 completion of the transaction, the insider now directly owns 186,866 shares in the company, valued at approximately $7,028,030.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief financial officer now owns 103,720 shares of the company’s stock, valued at $3,021,363.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,000 shares of company stock valued at $1,267,900. 15.90% of the stock is owned by 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.