KLP Kapitalforvaltning AS Invests $449,000 in Dorian LPG Ltd. (NYSE:LPG)

KLP Kapitalforvaltning AS acquired a new stake in Dorian LPG Ltd. (NYSE:LPG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,430 shares of the shipping company's stock, valued at approximately $449,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPG. Beacon Capital Management LLC raised its holdings in shares of Dorian LPG by 61.1% in the 4th quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock valued at $27,000 after purchasing an additional 428 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Dorian LPG by 7.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,446 shares of the shipping company's stock valued at $325,000 after buying an additional 692 shares during the period. Procyon Advisors LLC lifted its position in shares of Dorian LPG by 4.7% in the fourth quarter. Procyon Advisors LLC now owns 15,894 shares of the shipping company's stock valued at $387,000 after buying an additional 719 shares during the last quarter. KBC Group NV increased its holdings in shares of Dorian LPG by 84.6% during the 4th quarter. KBC Group NV now owns 2,075 shares of the shipping company's stock worth $51,000 after acquiring an additional 951 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Dorian LPG by 146.2% during the 4th quarter. GAMMA Investing LLC now owns 2,194 shares of the shipping company's stock valued at $53,000 after purchasing an additional 1,303 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Dorian LPG Price Performance

Shares of LPG traded up $0.92 during midday trading on Wednesday, hitting $18.83. The company's stock had a trading volume of 1,323,298 shares, compared to its average volume of 708,739. The company has a quick ratio of 3.95, a current ratio of 3.97 and a debt-to-equity ratio of 0.48. Dorian LPG Ltd. has a one year low of $16.66 and a one year high of $51.66. The stock has a market capitalization of $806.00 million, a price-to-earnings ratio of 4.79 and a beta of 0.67. The company's fifty day simple moving average is $21.73 and its two-hundred day simple moving average is $25.49.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The shipping company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.08. Dorian LPG had a return on equity of 15.14% and a net margin of 38.51%. During the same period in the previous year, the business posted $2.62 earnings per share. As a group, equities analysts expect that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Cuts Dividend

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

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.