Northern Trust Corp Grows Holdings in Dorian LPG Ltd. (NYSE:LPG)

Northern Trust Corp grew its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 20.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,569 shares of the shipping company’s stock after acquiring an additional 70,046 shares during the period. Northern Trust Corp owned about 0.98% of Dorian LPG worth $10,201,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its stake in shares of Dorian LPG by 392.6% during the third quarter. Barclays PLC now owns 62,935 shares of the shipping company’s stock valued at $2,167,000 after purchasing an additional 50,160 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Dorian LPG by 4.7% during the fourth quarter. Procyon Advisors LLC now owns 15,894 shares of the shipping company’s stock valued at $387,000 after buying an additional 719 shares during the last quarter. Viking Fund Management LLC acquired a new position in shares of Dorian LPG in the fourth quarter valued at about $219,000. Inspire Investing LLC raised its position in Dorian LPG by 34.4% during the 4th quarter. Inspire Investing LLC now owns 17,659 shares of the shipping company’s stock worth $430,000 after buying an additional 4,515 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Dorian LPG by 10.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 62,528 shares of the shipping company’s stock worth $1,524,000 after purchasing an additional 6,083 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Dorian LPG Price Performance

LPG stock opened at $23.61 on Friday. Dorian LPG Ltd. has a 1 year low of $16.66 and a 1 year high of $51.66. The firm has a market capitalization of $1.01 billion, a PE ratio of 6.01 and a beta of 0.71. The business has a 50 day simple moving average of $21.38 and a 200-day simple moving average of $23.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.97 and a quick ratio of 3.95.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.50 per share. This represents a yield of 13.5%. The ex-dividend date is Friday, May 16th. Dorian LPG’s payout ratio is currently 25.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on LPG. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price target on shares of Dorian LPG in a report on Friday, January 31st. Pareto Securities upgraded Dorian LPG to a “buy” rating in a report on Tuesday, February 4th.

Insider Activity

In related news, CEO John C. Hadjipateras bought 12,500 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were bought at an average price of $17.75 per share, with a total value of $221,875.00. Following the completion of the transaction, the chief executive officer now directly owns 1,824,386 shares of the company’s stock, valued at $32,382,851.50. This represents a 0.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.40% of the company’s stock.

Dorian LPG 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.