Mackenzie Financial Corp Sells 51,365 Shares of Dorian LPG Ltd. (NYSE:LPG)

Mackenzie Financial Corp lowered its position in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 67.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,566 shares of the shipping company's stock after selling 51,365 shares during the period. Mackenzie Financial Corp owned about 0.06% of Dorian LPG worth $549,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LPG. Heck Capital Advisors LLC acquired a new position in shares of Dorian LPG in the fourth quarter valued at approximately $37,000. Quarry LP raised its holdings in shares of Dorian LPG by 155.3% during the fourth quarter. Quarry LP now owns 2,035 shares of the shipping company's stock worth $50,000 after acquiring an additional 1,238 shares during the period. CWM LLC lifted its position in Dorian LPG by 74.5% in the 1st quarter. CWM LLC now owns 2,591 shares of the shipping company's stock valued at $58,000 after acquiring an additional 1,106 shares in the last quarter. GAMMA Investing LLC boosted its stake in Dorian LPG by 50.4% in the 1st quarter. GAMMA Investing LLC now owns 3,299 shares of the shipping company's stock worth $74,000 after purchasing an additional 1,105 shares during the period. Finally, PharVision Advisers LLC bought a new position in Dorian LPG during the 4th quarter worth about $210,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LPG. Wall Street Zen upgraded Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Jefferies Financial Group boosted their target price on Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, July 11th.

Dorian LPG Stock Performance

Shares of LPG opened at $30.36 on Friday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 26.40 and a beta of 0.77. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $39.35. The firm has a fifty day simple moving average of $26.31 and a 200 day simple moving average of $23.44. The company has a current ratio of 3.32, a quick ratio of 3.52 and a debt-to-equity ratio of 0.47.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 earnings per share 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 company had revenue of $84.21 million during the quarter, compared to the consensus estimate of $86.53 million. During the same quarter in the previous year, the business earned $1.26 EPS. Dorian LPG's revenue was down 26.3% on a year-over-year basis. Research analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Announces Dividend

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

Dorian LPG 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.

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