Bleakley Financial Group LLC Takes $273,000 Position in Dorian LPG Ltd. (NYSE:LPG)

Bleakley Financial Group LLC purchased a new stake in shares of Dorian LPG Ltd. (NYSE:LPG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,185 shares of the shipping company’s stock, valued at approximately $273,000.

A number of other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in Dorian LPG by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 17,511 shares of the shipping company’s stock valued at $735,000 after purchasing an additional 389 shares during the period. New York State Teachers Retirement System lifted its position in Dorian LPG by 1.9% during the third quarter. New York State Teachers Retirement System now owns 21,640 shares of the shipping company’s stock valued at $745,000 after purchasing an additional 394 shares during the period. State of Alaska Department of Revenue lifted its position in Dorian LPG by 3.3% during the third quarter. State of Alaska Department of Revenue now owns 20,672 shares of the shipping company’s stock valued at $711,000 after purchasing an additional 652 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Dorian LPG by 7.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,446 shares of the shipping company’s stock valued at $325,000 after purchasing an additional 692 shares during the period. Finally, Procyon Advisors LLC lifted its position in Dorian LPG by 4.7% during the fourth quarter. Procyon Advisors LLC now owns 15,894 shares of the shipping company’s stock valued at $387,000 after purchasing an additional 719 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and set a $35.00 price objective on shares of Dorian LPG in a research report on Friday, January 31st.

Dorian LPG Stock Down 1.0 %

LPG opened at $23.56 on Wednesday. The company has a current ratio of 3.97, a quick ratio of 4.20 and a debt-to-equity ratio of 0.48. Dorian LPG Ltd. has a 1-year low of $22.46 and a 1-year high of $51.66. The company has a market capitalization of $1.01 billion, a PE ratio of 5.99 and a beta of 0.91. The firm’s 50 day simple moving average is $24.32 and its two-hundred day simple moving average is $30.17.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Friday, January 31st. The shipping company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $2.62 EPS. As a group, equities analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, February 27th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, February 5th.

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.