Millennium Management LLC Has $635,000 Stake in Dorian LPG Ltd. (NYSE:LPG)

Millennium Management LLC trimmed its holdings in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 40.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,051 shares of the shipping company's stock after selling 17,668 shares during the period. Millennium Management LLC owned 0.06% of Dorian LPG worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPG. Beacon Capital Management LLC raised its position in Dorian LPG by 61.1% during the fourth quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock valued at $27,000 after purchasing an additional 428 shares in the last quarter. Quarry LP raised its position in Dorian LPG by 155.3% during the fourth quarter. Quarry LP now owns 2,035 shares of the shipping company's stock valued at $50,000 after purchasing an additional 1,238 shares in the last quarter. KBC Group NV raised its position in Dorian LPG by 84.6% during the fourth quarter. KBC Group NV now owns 2,075 shares of the shipping company's stock valued at $51,000 after purchasing an additional 951 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Dorian LPG during the fourth quarter valued at approximately $118,000. Finally, SBI Securities Co. Ltd. acquired a new position in Dorian LPG during the fourth quarter valued at approximately $135,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dorian LPG

In other Dorian LPG news, CEO John C. Hadjipateras acquired 12,500 shares of Dorian LPG stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average cost of $17.75 per share, for a total transaction of $221,875.00. Following the purchase, the chief executive officer now owns 1,824,386 shares of the company's stock, valued at approximately $32,382,851.50. This represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.40% of the stock is currently owned by company insiders.

Dorian LPG Price Performance

LPG stock opened at $22.49 on Friday. The stock has a market capitalization of $961.36 million, a PE ratio of 5.72 and a beta of 0.74. The company's 50-day moving average is $21.22 and its 200-day moving average is $22.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.97 and a quick ratio of 3.95. Dorian LPG Ltd. has a 1 year low of $16.66 and a 1 year high of $44.50.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its earnings results on Thursday, May 22nd. The shipping company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. The company had revenue of $75.89 million for the quarter, compared to analyst estimates of $79.04 million. During the same quarter in the prior year, the business posted $1.91 EPS. The firm's revenue was down 46.3% compared to the same quarter last year. Equities research analysts expect that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 13.5%. Dorian LPG's payout ratio is currently 46.30%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st.

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.

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