Principal Financial Group Inc. Increases Stake in Dorian LPG Ltd. (NYSE:LPG)

Principal Financial Group Inc. lifted its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 208,027 shares of the shipping company’s stock after buying an additional 9,285 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Dorian LPG worth $5,070,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Dorian LPG by 20.8% in the fourth quarter. Pacer Advisors Inc. now owns 4,127,317 shares of the shipping company’s stock worth $100,583,000 after acquiring an additional 711,313 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Dorian LPG by 52.2% during the 3rd quarter. Empowered Funds LLC now owns 290,445 shares of the shipping company’s stock worth $9,997,000 after purchasing an additional 99,650 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dorian LPG by 9.1% during the third quarter. Geode Capital Management LLC now owns 964,222 shares of the shipping company’s stock worth $33,195,000 after purchasing an additional 80,757 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Dorian LPG by 87.3% in the third quarter. Victory Capital Management Inc. now owns 163,754 shares of the shipping company’s stock valued at $5,636,000 after buying an additional 76,334 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Dorian LPG in the third quarter valued at $2,238,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Dorian LPG Price Performance

Shares of NYSE:LPG opened at $19.88 on Tuesday. Dorian LPG Ltd. has a 12 month low of $19.71 and a 12 month high of $51.66. The firm has a market capitalization of $850.94 million, a P/E ratio of 5.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.97 and a quick ratio of 3.95. The company’s fifty day moving average price is $23.86 and its 200 day moving average price is $28.47.

Dorian LPG (NYSE:LPG) last posted its earnings results on Friday, January 31st. The shipping company reported $0.43 EPS for the quarter, topping 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 quarter in the previous year, the company earned $2.62 EPS. As a group, sell-side analysts predict that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, February 27th. Shareholders of record on Wednesday, February 5th were paid 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%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LPG. Pareto Securities raised Dorian LPG to a “buy” rating in a research report on Tuesday, February 4th. Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of Dorian LPG in a research note on Friday, January 31st.

About Dorian LPG

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.