Allspring Global Investments Holdings LLC Has $3.94 Million Stock Holdings in Dorian LPG Ltd. (NYSE:LPG)

Allspring Global Investments Holdings LLC boosted its stake in Dorian LPG Ltd. (NYSE:LPG) by 1,187.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 89,724 shares of the shipping company’s stock after buying an additional 82,757 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.22% of Dorian LPG worth $3,936,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in shares of Dorian LPG by 317.7% in the fourth quarter. Fifth Third Bancorp now owns 685 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 521 shares during the last quarter. Quilter Plc acquired a new position in Dorian LPG in the 1st quarter valued at $745,743,000. Planned Solutions Inc. bought a new position in Dorian LPG during the 4th quarter worth $44,000. Quarry LP lifted its holdings in shares of Dorian LPG by 79.3% during the second quarter. Quarry LP now owns 1,325 shares of the shipping company’s stock worth $34,000 after buying an additional 586 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Dorian LPG by 43.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,412 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 430 shares during the period. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. DNB Markets cut shares of Dorian LPG from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research note on Friday, January 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $50.00 price target on shares of Dorian LPG in a research note on Thursday, February 1st. Finally, StockNews.com lowered Dorian LPG from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dorian LPG currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

Dorian LPG Stock Performance

NYSE LPG opened at $39.80 on Friday. The firm’s 50 day simple moving average is $37.61 and its 200 day simple moving average is $38.27. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 5.29 and a beta of 1.13. The company has a current ratio of 3.31, a quick ratio of 3.29 and a debt-to-equity ratio of 0.57. Dorian LPG Ltd. has a 1 year low of $21.02 and a 1 year high of $49.54.

Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, February 1st. The shipping company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. Dorian LPG had a return on equity of 33.59% and a net margin of 55.02%. The firm had revenue of $163.06 million for the quarter, compared to the consensus estimate of $154.49 million. During the same quarter last year, the business posted $1.29 EPS. As a group, research analysts expect that Dorian LPG Ltd. will post 7.29 earnings per share for the current fiscal year.

Dorian LPG Announces Dividend

The firm also recently announced a None dividend, which was paid on Tuesday, February 27th. Shareholders of record on Monday, February 5th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, February 2nd. Dorian LPG’s dividend payout ratio is presently 26.56%.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.