Dorian LPG Ltd. (NYSE:LPG) Stake Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Dorian LPG Ltd. (NYSE:LPG) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,254 shares of the shipping company’s stock after buying an additional 11,034 shares during the period. Bank of New York Mellon Corp owned approximately 0.14% of Dorian LPG worth $772,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in Dorian LPG during the first quarter worth approximately $235,000. Nationwide Fund Advisors raised its stake in Dorian LPG by 29.5% in the first quarter. Nationwide Fund Advisors now owns 25,457 shares of the shipping company’s stock worth $268,000 after buying an additional 5,793 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Dorian LPG during the first quarter worth approximately $1,126,000. State Street Corp raised its stake in Dorian LPG by 8.2% in the fourth quarter. State Street Corp now owns 351,876 shares of the shipping company’s stock worth $2,891,000 after buying an additional 26,556 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Dorian LPG by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,415 shares of the shipping company’s stock worth $8,477,000 after buying an additional 75,733 shares during the last quarter. 48.38% of the stock is currently owned by institutional investors.

Dorian LPG Ltd. (NYSE:LPG) opened at 6.69 on Friday. The company’s market cap is $361.77 million. The firm has a 50-day moving average price of $7.54 and a 200-day moving average price of $8.88. Dorian LPG Ltd. has a 52 week low of $5.07 and a 52 week high of $12.50.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The business had revenue of $41 million during the quarter, compared to analysts’ expectations of $37.65 million. Dorian LPG had a negative return on equity of 4.16% and a negative net margin of 4.33%. The firm’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. Equities research analysts anticipate that Dorian LPG Ltd. will post ($0.44) EPS for the current fiscal year.

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A number of research firms recently commented on LPG. Zacks Investment Research raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. UBS AG set a $8.00 price target on Dorian LPG and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub lowered Dorian LPG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine raised Dorian LPG from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, Pareto Securities raised Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

In other news, insider John C. Hadjipateras sold 250,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $7.55, for a total value of $1,887,500.00. Following the completion of the transaction, the insider now owns 2,037,020 shares in the company, valued at $15,379,501. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.50% of the stock is owned by insiders.

Dorian LPG Company Profile

Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.

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

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