Dimensional Fund Advisors LP lifted its stake in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,549,771 shares of the shipping company's stock after acquiring an additional 73,754 shares during the quarter. Dimensional Fund Advisors LP owned 5.97% of Dorian LPG worth $87,199,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. KBC Group NV purchased a new stake in shares of Dorian LPG during the first quarter valued at $38,000. Sunbelt Securities Inc. purchased a new position in Dorian LPG in the 3rd quarter worth about $41,000. NewEdge Advisors LLC increased its stake in Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Dorian LPG by 429.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company's stock worth $40,000 after buying an additional 1,340 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Dorian LPG during the 4th quarter worth about $49,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.
Dorian LPG Stock Performance
Shares of LPG stock opened at $45.59 on Thursday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.02 and a beta of 0.66. Dorian LPG Ltd. has a 1-year low of $23.76 and a 1-year high of $48.12. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The stock's fifty day simple moving average is $41.32 and its 200-day simple moving average is $36.69.
Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.48. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.The firm had revenue of $153.27 million during the quarter, compared to the consensus estimate of $128.87 million. During the same period in the prior year, the business 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 business also recently declared a special dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, July 27th.
Insider Buying and Selling
In related news, insider Tim Truels Hansen sold 20,000 shares of the business's 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 transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ted Kalborg sold 15,373 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were 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 position. The disclosure for this sale is available in the SEC filing. 13.60% of the stock is owned by corporate insiders.
Analyst Ratings Changes
LPG has been the subject of a number of analyst reports. Freedom Capital cut shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Wall Street Zen raised shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Jefferies Financial Group boosted their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Pareto Securities restated a "buy" rating on shares of Dorian LPG in a research report on Thursday, May 21st. Finally, Weiss Ratings raised shares of Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Dorian LPG has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.
Get Our Latest Report on LPG
Dorian LPG Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding LPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dorian LPG Ltd. (NYSE:LPG - Free Report).
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