Engineers Gate Manager LP trimmed its position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 68.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,369 shares of the shipping company's stock after selling 90,724 shares during the quarter. Engineers Gate Manager LP owned about 0.10% of Dorian LPG worth $1,439,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of LPG. Arrowstreet Capital Limited Partnership purchased a new stake in Dorian LPG during the first quarter valued at approximately $11,929,000. Pacer Advisors Inc. grew its holdings in Dorian LPG by 2,540.0% in the first quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company's stock worth $6,513,000 after purchasing an additional 183,232 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Dorian LPG by 227.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company's stock worth $7,247,000 after purchasing an additional 149,787 shares in the last quarter. Empowered Funds LLC increased its position in shares of Dorian LPG by 117.5% during the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company's stock worth $6,738,000 after purchasing an additional 106,428 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Dorian LPG by 76.6% during the 1st quarter. First Trust Advisors LP now owns 181,420 shares of the shipping company's stock valued at $6,205,000 after purchasing an additional 78,710 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
LPG has been the subject of a number of recent analyst reports. Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a research report on Thursday, May 21st. Freedom Capital upgraded Dorian LPG from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Jefferies Financial Group boosted their price target on Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Dorian LPG in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Dorian LPG currently has a consensus rating of "Buy" and an average target price of $55.00.
Read Our Latest Report on Dorian LPG
Insider Buying and Selling
In other news, COO Alexander C. Hadjipateras sold 5,000 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $54.13, for a total value of $270,650.00. Following the sale, the chief operating officer directly owned 95,836 shares of the company's stock, valued at $5,187,602.68. This represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tim Hansen sold 50,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the completion of the sale, the insider owned 107,675 shares in the company, valued at $5,719,696. The trade was a 31.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 126,000 shares of company stock worth $6,163,449. 13.50% of the stock is owned by company insiders.
Dorian LPG Stock Performance
Shares of LPG opened at $58.38 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The stock has a 50-day moving average of $48.04 and a two-hundred day moving average of $41.46. The stock has a market cap of $2.50 billion, a P/E ratio of 7.73 and a beta of 0.61. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $59.97.
Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.The business had revenue of $187.88 million for the quarter, compared to analyst estimates of $160.78 million. During the same period in the prior year, the company earned $0.27 earnings per share. The company's revenue was up 123.1% on a year-over-year basis.
Dorian LPG Dividend Announcement
The firm also recently declared a special dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, July 27th were issued a $1.00 dividend. The ex-dividend date was Monday, July 27th.
About Dorian LPG
(
Free Report)
Dorian LPG Ltd. NYSE: LPG is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.
Dorian LPG's fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.
Featured Stories
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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Dorian LPG, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dorian LPG wasn't on the list.
While Dorian LPG currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
