Allspring Global Investments Holdings LLC Sells 10,771 Shares of Dorian LPG Ltd. (NYSE:LPG)

Allspring Global Investments Holdings LLC reduced its position in Dorian LPG Ltd. (NYSE:LPGFree Report) by 12.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,953 shares of the shipping company’s stock after selling 10,771 shares during the period. Allspring Global Investments Holdings LLC owned 0.19% of Dorian LPG worth $3,037,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPG. Fifth Third Bancorp raised its holdings in shares of Dorian LPG by 317.7% during the 4th quarter. Fifth Third Bancorp now owns 685 shares of the shipping company’s stock worth $30,000 after acquiring an additional 521 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Dorian LPG by 178.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 820 shares of the shipping company’s stock worth $36,000 after purchasing an additional 525 shares during the last quarter. Planned Solutions Inc. purchased a new stake in Dorian LPG during the fourth quarter valued at $44,000. USA Financial Formulas bought a new position in Dorian LPG during the fourth quarter valued at $68,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Dorian LPG by 26.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after buying an additional 379 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Dorian LPG Stock Performance

Dorian LPG stock opened at $42.08 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.62 and a quick ratio of 3.60. The firm has a market capitalization of $1.71 billion, a P/E ratio of 5.54 and a beta of 0.97. Dorian LPG Ltd. has a 1-year low of $24.17 and a 1-year high of $51.66. The company’s 50-day moving average is $44.04 and its 200 day moving average is $41.16.

Dorian LPG (NYSE:LPGGet Free Report) last issued its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. Dorian LPG had a return on equity of 32.22% and a net margin of 54.83%. The firm had revenue of $141.40 million for the quarter, compared to the consensus estimate of $144.25 million. During the same period in the prior year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts forecast that Dorian LPG Ltd. will post 6.07 EPS for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced a None dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 8th were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 7th. Dorian LPG’s dividend payout ratio (DPR) is 26.32%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Dorian LPG from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. StockNews.com downgraded Dorian LPG from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

Read Our Latest Research Report on Dorian LPG

Dorian LPG Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Dorian LPG (NYSE:LPG)

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