New York State Teachers Retirement System Grows Stake in Dorian LPG Ltd. (NYSE:LPG)

New York State Teachers Retirement System boosted its stake in Dorian LPG Ltd. (NYSE:LPG) by 12.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,338 shares of the shipping company’s stock after buying an additional 2,698 shares during the quarter. New York State Teachers Retirement System’s holdings in Dorian LPG were worth $593,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Dorian LPG by 20.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,127,317 shares of the shipping company’s stock worth $100,583,000 after purchasing an additional 711,313 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Dorian LPG by 52.2% in the third quarter. Empowered Funds LLC now owns 290,445 shares of the shipping company’s stock worth $9,997,000 after buying an additional 99,650 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 80,757 shares during the last quarter. Victory Capital Management Inc. grew its stake in Dorian LPG by 87.3% during the 3rd quarter. Victory Capital Management Inc. now owns 163,754 shares of the shipping company’s stock valued at $5,636,000 after acquiring an additional 76,334 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Dorian LPG during the 3rd quarter valued at about $2,238,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Stock Performance

NYSE LPG opened at $22.60 on Tuesday. The stock has a 50-day moving average of $24.15 and a two-hundred day moving average of $29.03. 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 Ltd. has a 1-year low of $22.10 and a 1-year high of $51.66. The company has a market cap of $967.28 million, a P/E ratio of 5.75 and a beta of 0.91.

Dorian LPG (NYSE:LPG) last released its earnings results 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 return on equity of 15.14% and a net margin of 38.51%. During the same period last year, the firm earned $2.62 earnings per share. As a group, analysts anticipate 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 issued a $0.70 dividend. The ex-dividend date is Wednesday, February 5th. Dorian LPG’s payout ratio is 25.45%.

Analysts Set New Price Targets

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

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.