Allspring Global Investments Holdings LLC Purchases 82,757 Shares of Dorian LPG Ltd. (NYSE:LPG)

Allspring Global Investments Holdings LLC boosted its position in Dorian LPG Ltd. (NYSE:LPG) by 1,187.8% in the fourth quarter, HoldingsChannel reports. The firm owned 89,724 shares of the shipping company’s stock after buying an additional 82,757 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dorian LPG were worth $3,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Dorian LPG by 8.2% in the 3rd quarter. BlackRock Inc. now owns 5,263,675 shares of the shipping company’s stock worth $71,427,000 after buying an additional 400,804 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 worth $64,622,000 after purchasing an additional 341,453 shares during the last quarter. Vanguard Group Inc. grew its stake in Dorian LPG by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,479,325 shares of the shipping company’s stock valued at $42,501,000 after purchasing an additional 180,246 shares during the period. Pacer Advisors Inc. increased its position in shares of Dorian LPG by 45.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,342,303 shares of the shipping company’s stock valued at $58,887,000 after purchasing an additional 416,809 shares during the last quarter. Finally, State Street Corp raised its stake 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 worth $26,188,000 after purchasing an additional 105,059 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LPG shares. DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a research report on Friday, January 26th. Jefferies Financial Group reissued a “buy” rating and set a $50.00 target price on shares of Dorian LPG in a research report on Thursday, February 1st. Finally, StockNews.com cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.25.

Dorian LPG Trading Up 0.9 %

Shares of Dorian LPG stock opened at $39.80 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.29 and a current ratio of 3.31. The stock has a market capitalization of $1.62 billion, a P/E ratio of 5.29 and a beta of 1.13. Dorian LPG Ltd. has a 52-week low of $21.02 and a 52-week high of $49.54. The stock’s 50-day simple moving average is $37.61 and its 200 day simple moving average is $38.27.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, February 1st. The shipping company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.35. The company had revenue of $163.06 million for the quarter, compared to analyst estimates of $154.49 million. Dorian LPG had a net margin of 55.02% and a return on equity of 33.59%. During the same quarter in the previous year, the firm posted $1.29 earnings per share. As a group, research analysts anticipate that Dorian LPG Ltd. will post 7.29 EPS for the current year.

Dorian LPG Announces Dividend

The business also recently announced a None dividend, which was paid on Tuesday, February 27th. Shareholders of record on Monday, February 5th were given a dividend of $1.00 per share. The ex-dividend date was Friday, February 2nd. Dorian LPG’s dividend payout ratio is currently 26.56%.

Dorian LPG 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.