Bank of New York Mellon Corp Grows Position in Dorian LPG Ltd. (NYSE:LPG)

Bank of New York Mellon Corp increased its holdings in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 27.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 299,417 shares of the shipping company's stock after buying an additional 63,613 shares during the quarter. Bank of New York Mellon Corp owned 0.70% of Dorian LPG worth $7,297,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LPG. Beacon Capital Management LLC boosted its stake in shares of Dorian LPG by 61.1% during the 4th quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock worth $27,000 after acquiring an additional 428 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Dorian LPG during the fourth quarter valued at $37,000. KBC Group NV lifted its position in Dorian LPG by 84.6% during the fourth quarter. KBC Group NV now owns 2,075 shares of the shipping company's stock valued at $51,000 after purchasing an additional 951 shares in the last quarter. GAMMA Investing LLC increased its position in Dorian LPG by 146.2% in the fourth quarter. GAMMA Investing LLC now owns 2,194 shares of the shipping company's stock worth $53,000 after buying an additional 1,303 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Dorian LPG in the fourth quarter worth about $206,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LPG has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and set a $35.00 price objective on shares of Dorian LPG in a research note on Friday, January 31st. Pareto Securities upgraded shares of Dorian LPG to a "buy" rating in a research report on Tuesday, February 4th.

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Dorian LPG Price Performance

Shares of NYSE:LPG traded up $0.70 during trading on Wednesday, hitting $23.22. 368,496 shares of the company's stock were exchanged, compared to its average volume of 736,685. The business's 50-day simple moving average is $23.12 and its 200 day simple moving average is $27.16. The company has a market cap of $993.87 million, a price-to-earnings ratio of 5.90 and a beta of 0.87. Dorian LPG Ltd. has a 52-week low of $19.36 and a 52-week high of $51.66. 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 (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. During the same quarter last year, the company posted $2.62 earnings per share. As a group, equities analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, February 27th. Shareholders of record on Wednesday, February 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. Dorian LPG's dividend payout ratio is currently 25.45%.

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.