Arrowstreet Capital Limited Partnership Takes Position in Dorian LPG Ltd. $LPG

Key Points

• Arrowstreet Capital acquired 348,787 Dorian LPG shares in the first quarter, worth approximately $11.9 million and representing a 0.82% stake. Institutional investors collectively own 62.5% of the company.
• Dorian LPG reported strong quarterly results, with EPS of $1.89 versus the $1.41 consensus estimate and revenue up 102% year over year to $153.27 million. The company also declared a special $1.00-per-share dividend payable August 12 to shareholders of record July 27.
• Shares opened at $47.20, near the 52-week high of $48.12, while analysts maintain a “Moderate Buy” consensus with a $55 price target. Recent insider sales and mixed analyst actions provide some counterpoints to the bullish outlook.

Arrowstreet Capital Limited Partnership bought a new stake in Dorian LPG Ltd. (NYSE:LPG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 348,787 shares of the shipping company's stock, valued at approximately $11,929,000. Arrowstreet Capital Limited Partnership owned 0.82% of Dorian LPG as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Dorian LPG by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company's stock worth $87,199,000 after acquiring an additional 73,754 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Dorian LPG by 12.4% in the 4th quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company's stock worth $45,635,000 after purchasing an additional 207,575 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Dorian LPG by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company's stock worth $27,184,000 after purchasing an additional 10,480 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Dorian LPG by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company's stock worth $16,524,000 after purchasing an additional 23,974 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Dorian LPG by 55.8% during the third quarter. Millennium Management LLC now owns 572,315 shares of the shipping company's stock valued at $17,055,000 after purchasing an additional 204,861 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Dorian LPG Price Performance

Shares of LPG stock opened at $47.20 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 2.67. The stock's 50-day simple moving average is $41.34 and its 200-day simple moving average is $36.89. Dorian LPG Ltd. has a fifty-two week low of $23.76 and a fifty-two week high of $48.12. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 10.37 and a beta of 0.66.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.41 by $0.48. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The business had revenue of $153.27 million for the quarter, compared to the consensus estimate of $128.87 million. During the same period in the prior year, the firm earned $0.25 EPS. The business's revenue for the quarter was up 102.0% on a year-over-year basis.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, July 27th.

Insider Activity at Dorian LPG

In other news, insider Tim Truels Hansen sold 20,000 shares of Dorian LPG stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total transaction of $707,600.00. Following the sale, the insider owned 157,842 shares of the company's stock, valued at approximately $5,584,449.96. The trade was a 11.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ted Kalborg sold 15,373 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the transaction, the director owned 66,348 shares in the company, valued at approximately $2,989,640.88. This represents a 18.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.60% of the company's stock.

Analyst Ratings Changes

LPG has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Freedom Capital downgraded shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Jefferies Financial Group upped their price objective on Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Dnb Carnegie upgraded Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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