Pacer Advisors Inc. Purchases 711,313 Shares of Dorian LPG Ltd. (NYSE:LPG)

Pacer Advisors Inc. increased its position in shares of Dorian LPG Ltd. (NYSE:LPG) by 20.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,127,317 shares of the shipping company’s stock after acquiring an additional 711,313 shares during the period. Pacer Advisors Inc. owned approximately 9.64% of Dorian LPG worth $100,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP increased its position in shares of Dorian LPG by 57.8% in the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after purchasing an additional 345 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Dorian LPG by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 17,511 shares of the shipping company’s stock valued at $735,000 after acquiring an additional 389 shares during the last quarter. New York State Teachers Retirement System raised 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 in the last quarter. State of Alaska Department of Revenue lifted its stake 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 worth $711,000 after purchasing an additional 652 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Dorian LPG by 7.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,446 shares of the shipping company’s stock worth $325,000 after purchasing an additional 692 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and issued a $42.00 target price on shares of Dorian LPG in a research report on Thursday, October 31st.

Dorian LPG Stock Performance

NYSE LPG opened at $23.68 on Monday. The company has a 50-day simple moving average of $24.51 and a two-hundred day simple moving average of $31.46. Dorian LPG Ltd. has a 12-month low of $22.46 and a 12-month high of $51.66. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 4.01 and a beta of 0.93. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The company had revenue of $82.40 million for the quarter, compared to the consensus estimate of $82.40 million. During the same quarter in the previous year, the business earned $1.85 earnings per share. Dorian LPG’s revenue was down 43.1% compared to the same quarter last year. On average, equities analysts forecast that Dorian LPG Ltd. will post 2.84 EPS for the current year.

Dorian LPG Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, February 27th. Investors of record on Wednesday, February 5th will be issued 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.