Millennium Management LLC Lowers Position in Dorian LPG Ltd. (NYSE:LPG)

Millennium Management LLC lowered its position in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 40.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,051 shares of the shipping company's stock after selling 17,668 shares during the quarter. Millennium Management LLC owned about 0.06% of Dorian LPG worth $635,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Beacon Capital Management LLC increased its stake in Dorian LPG by 61.1% in the fourth quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock valued at $27,000 after acquiring an additional 428 shares during the last quarter. Franklin Resources Inc. increased its stake in Dorian LPG by 2.5% in the fourth quarter. Franklin Resources Inc. now owns 22,593 shares of the shipping company's stock valued at $551,000 after acquiring an additional 545 shares during the last quarter. Voya Investment Management LLC increased its stake in Dorian LPG by 3.8% in the fourth quarter. Voya Investment Management LLC now owns 15,791 shares of the shipping company's stock valued at $385,000 after acquiring an additional 572 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Dorian LPG by 3.1% in the fourth quarter. Russell Investments Group Ltd. now owns 21,911 shares of the shipping company's stock valued at $534,000 after acquiring an additional 657 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Dorian LPG by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,689 shares of the shipping company's stock valued at $504,000 after acquiring an additional 797 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Dorian LPG Trading Up 2.3%

NYSE LPG traded up $0.51 during trading on Wednesday, hitting $23.08. 460,534 shares of the company's stock traded hands, compared to its average volume of 698,660. The stock has a fifty day moving average of $21.40 and a two-hundred day moving average of $22.64. 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 12-month low of $16.66 and a 12-month high of $43.85. The firm has a market cap of $986.62 million, a P/E ratio of 5.87 and a beta of 0.74.

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

Dorian LPG Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Dorian LPG from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st.

Insider Buying and Selling at Dorian LPG

In other news, CEO John C. Hadjipateras bought 12,500 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was bought at an average cost of $17.75 per share, for a total transaction of $221,875.00. Following the completion of the acquisition, the chief executive officer now owns 1,824,386 shares in the company, valued at approximately $32,382,851.50. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 13.40% of the company's stock.

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.