Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,669 Shares of Dorian LPG Ltd. (NYSE:LPG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dorian LPG Ltd. (NYSE:LPG) by 18.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,115 shares of the shipping company’s stock after acquiring an additional 2,669 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dorian LPG were worth $382,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LPG. Franklin Resources Inc. raised its holdings in Dorian LPG by 2.5% in the 4th quarter. Franklin Resources Inc. now owns 22,593 shares of the shipping company’s stock worth $551,000 after acquiring an additional 545 shares during the period. Geode Capital Management LLC grew its position in Dorian LPG by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,001,189 shares of the shipping company’s stock worth $24,404,000 after purchasing an additional 36,967 shares during the last quarter. Wells Fargo & Company MN grew its position in Dorian LPG by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 30,270 shares of the shipping company’s stock worth $738,000 after purchasing an additional 6,489 shares during the last quarter. Russell Investments Group Ltd. grew its position in Dorian LPG by 3.1% in the 4th quarter. Russell Investments Group Ltd. now owns 21,911 shares of the shipping company’s stock worth $534,000 after purchasing an additional 657 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Dorian LPG by 1.8% in the 4th quarter. Legal & General Group Plc now owns 97,000 shares of the shipping company’s stock worth $2,364,000 after purchasing an additional 1,674 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Dorian LPG from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Jefferies Financial Group raised their price target 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 Price Performance

Shares of Dorian LPG stock opened at $30.67 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.52 and a current ratio of 3.32. The firm’s 50-day simple moving average is $26.49 and its 200-day simple moving average is $23.48. Dorian LPG Ltd. has a twelve month low of $16.66 and a twelve month high of $39.35. The firm has a market cap of $1.31 billion, a P/E ratio of 26.67 and a beta of 0.77.

Dorian LPG (NYSE:LPG) last issued its earnings results on Friday, August 1st. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.34). Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The business had revenue of $84.21 million for the quarter, compared to analyst estimates of $86.53 million. During the same quarter last year, the firm posted $1.26 earnings per share. Dorian LPG’s revenue was down 26.3% on a year-over-year basis. As a group, research analysts expect that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 7.8%.

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.