Dorian LPG Ltd. (NYSE:LPG) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Dorian LPG Ltd. (NYSE:LPG) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,052 shares of the shipping company’s stock after purchasing an additional 5,025 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Dorian LPG worth $4,760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPG. Franklin Resources Inc. raised its holdings in shares of Dorian LPG by 2.5% during the fourth quarter. Franklin Resources Inc. now owns 22,593 shares of the shipping company’s stock worth $551,000 after acquiring an additional 545 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Dorian LPG by 3.8% in the fourth quarter. Voya Investment Management LLC now owns 15,791 shares of the shipping company’s stock worth $385,000 after acquiring an additional 572 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Dorian LPG by 3.3% during the first quarter. SummerHaven Investment Management LLC now owns 18,929 shares of the shipping company’s stock worth $423,000 after buying an additional 598 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Dorian LPG by 3.1% during the fourth quarter. Russell Investments Group Ltd. now owns 21,911 shares of the shipping company’s stock worth $534,000 after buying an additional 657 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Dorian LPG by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,689 shares of the shipping company’s stock valued at $504,000 after purchasing an additional 797 shares during the period. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Jefferies Financial Group increased their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 11th.

Dorian LPG Stock Performance

Shares of LPG stock opened at $28.71 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.52 and a current ratio of 3.54. The company has a 50-day simple moving average of $24.29 and a 200 day simple moving average of $23.03. Dorian LPG Ltd. has a 52 week low of $16.66 and a 52 week high of $42.38. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 13.29 and a beta of 0.77.

Dorian LPG (NYSE:LPG) last released its earnings results on Thursday, May 22nd. The shipping company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.08. The firm had revenue of $75.89 million during the quarter, compared to analysts’ expectations of $79.04 million. Dorian LPG had a return on equity of 8.88% and a net margin of 25.52%. The company’s quarterly revenue was down 46.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 earnings per share. On average, sell-side analysts predict that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a yield of 13.5%.

Dorian LPG Company 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.