Atria Wealth Solutions Inc. Purchases 27,628 Shares of Dorian LPG Ltd. (NYSE:LPG)

Atria Wealth Solutions Inc. lifted its stake in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 78.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,659 shares of the shipping company's stock after purchasing an additional 27,628 shares during the quarter. Atria Wealth Solutions Inc. owned about 0.15% of Dorian LPG worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LPG. PNC Financial Services Group Inc. lifted its position in shares of Dorian LPG by 112.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,540 shares of the shipping company's stock valued at $79,000 after acquiring an additional 1,870 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of Dorian LPG by 3.1% in the first quarter. Moors & Cabot Inc. now owns 16,308 shares of the shipping company's stock worth $364,000 after buying an additional 495 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Dorian LPG in the first quarter worth $411,000. GSA Capital Partners LLP acquired a new stake in shares of Dorian LPG in the first quarter worth $1,720,000. Finally, Picton Mahoney Asset Management boosted its position in shares of Dorian LPG by 6,275.0% in the first quarter. Picton Mahoney Asset Management now owns 2,040 shares of the shipping company's stock worth $46,000 after buying an additional 2,008 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LPG has been the subject of several recent research reports. Wall Street Zen upgraded Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Jefferies Financial Group increased their price objective on Dorian LPG from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, July 11th.

Dorian LPG Stock Performance

Shares of NYSE:LPG traded up $0.18 during midday trading on Thursday, hitting $30.36. The company's stock had a trading volume of 336,995 shares, compared to its average volume of 742,827. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 26.40 and a beta of 0.77. The stock's 50 day simple moving average is $27.01 and its 200 day simple moving average is $23.61. Dorian LPG Ltd. has a fifty-two week low of $16.66 and a fifty-two week high of $39.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.34). Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The business had revenue of $84.21 million during the quarter, compared to analyst estimates of $86.53 million. During the same period in the prior year, the business posted $1.26 earnings per share. The company's revenue for the quarter was down 26.3% compared to the same quarter last year. As a group, research analysts anticipate that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.9%.

About Dorian LPG

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.