American Century Companies Inc. Raises Stake in Dorian LPG Ltd. $LPG

American Century Companies Inc. raised its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,697,048 shares of the shipping company’s stock after acquiring an additional 99,485 shares during the period. American Century Companies Inc. owned about 3.96% of Dorian LPG worth $50,572,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Dorian LPG by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,667,332 shares of the shipping company’s stock valued at $49,686,000 after purchasing an additional 41,701 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dorian LPG by 3.8% during the second quarter. Geode Capital Management LLC now owns 1,112,333 shares of the shipping company’s stock valued at $27,121,000 after buying an additional 40,859 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Dorian LPG by 236.7% during the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock valued at $10,373,000 after buying an additional 299,107 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Dorian LPG by 136.2% in the second quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock worth $8,996,000 after buying an additional 212,787 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Dorian LPG by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 295,457 shares of the shipping company’s stock valued at $7,203,000 after acquiring an additional 5,131 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO John C. Hadjipateras purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were bought at an average cost of $27.30 per share, for a total transaction of $409,500.00. Following the completion of the transaction, the chief executive officer directly owned 153,500 shares of the company’s stock, valued at $4,190,550. This trade represents a 10.83% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theodore B. Young sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $34.84, for a total value of $348,400.00. Following the completion of the sale, the chief financial officer directly owned 122,926 shares in the company, valued at approximately $4,282,741.84. The trade was a 7.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Dorian LPG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 22nd. Pareto Securities cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Dnb Carnegie raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Dorian LPG Trading Down 4.6%

NYSE:LPG opened at $35.52 on Friday. The company has a 50-day moving average price of $30.44 and a 200-day moving average price of $28.87. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.51 and a beta of 0.53. The company has a current ratio of 2.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.38. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $38.40.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Thursday, February 5th. The shipping company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). Dorian LPG had a return on equity of 11.82% and a net margin of 29.88%.The company had revenue of $118.23 million during the quarter, compared to the consensus estimate of $115.15 million. During the same period in the previous year, the company earned $0.43 earnings per share. Dorian LPG’s quarterly revenue was up 48.7% on a year-over-year basis. Equities analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Announces Dividend

The company also recently announced a special dividend, which was paid on Tuesday, February 24th. Stockholders of record on Monday, February 9th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a dividend yield of 881.0%.

About Dorian LPG

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.