Kingstone Capital Partners Texas LLC Takes Position in Dorian LPG Ltd. $LPG

Key Points

• Kingstone Capital Partners Texas LLC invested approximately $165.21 million in Dorian LPG Ltd., acquiring 6,776,460 shares, which amounts to 15.85% ownership of the company.
• Dorian LPG reported a 26.3% year-over-year decline in revenue, with earnings of $0.27 EPS falling short of analyst estimates of $0.61.
• The company announced a quarterly dividend of $0.60 per share, which translates to an annualized yield of 7.5%.

Kingstone Capital Partners Texas LLC bought a new position in Dorian LPG Ltd. (NYSE:LPG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,776,460 shares of the shipping company's stock, valued at approximately $165,210,000. Kingstone Capital Partners Texas LLC owned approximately 15.85% of Dorian LPG at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LPG. American Century Companies Inc. lifted its holdings in shares of Dorian LPG by 8.0% during the 1st quarter. American Century Companies Inc. now owns 1,460,840 shares of the shipping company's stock valued at $32,635,000 after buying an additional 108,769 shares during the period. Millennium Management LLC raised its holdings in Dorian LPG by 3,728.9% during the first quarter. Millennium Management LLC now owns 997,470 shares of the shipping company's stock valued at $22,283,000 after acquiring an additional 971,419 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Dorian LPG by 10.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 580,771 shares of the shipping company's stock valued at $12,974,000 after acquiring an additional 56,432 shares during the period. Bridgeway Capital Management LLC raised its holdings in Dorian LPG by 2.1% during the first quarter. Bridgeway Capital Management LLC now owns 458,653 shares of the shipping company's stock valued at $10,246,000 after acquiring an additional 9,544 shares during the period. Finally, Empowered Funds LLC raised its holdings in Dorian LPG by 2.0% during the first quarter. Empowered Funds LLC now owns 327,781 shares of the shipping company's stock valued at $7,323,000 after acquiring an additional 6,580 shares during the period. 62.50% of the stock is owned by institutional investors.

Dorian LPG Stock Up 2.0%

Shares of NYSE:LPG traded up $0.65 during trading on Tuesday, hitting $32.32. The company's stock had a trading volume of 78,602 shares, compared to its average volume of 710,711. Dorian LPG Ltd. has a fifty-two week low of $16.66 and a fifty-two week high of $37.16. The business has a 50 day moving average price of $30.51 and a two-hundred day moving average price of $25.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32. The company has a market capitalization of $1.38 billion, a PE ratio of 28.09 and a beta of 0.82.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $84.21 million for the quarter, compared to analysts' expectations of $86.53 million. Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.Dorian LPG's revenue for the quarter was down 26.3% on a year-over-year basis. During the same period last year, the firm posted $1.26 earnings per share. As a group, research analysts expect that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.40 dividend on an annualized basis and a yield of 7.4%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LPG. Jefferies Financial Group upped their target price on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Zacks Research cut shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen upgraded Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Insiders Place Their Bets

In related news, COO Alexander C. Hadjipateras sold 5,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $32.38, for a total transaction of $161,900.00. Following the completion of the sale, the chief operating officer owned 89,440 shares in the company, valued at $2,896,067.20. This represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Dorian LPG Company 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.