Pacer Advisors Inc. Lowers Position in Dorian LPG Ltd. (NYSE:LPG)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Dorian LPG Ltd. by selling 3,654,446 shares, decreasing its holdings by 88.5% to own only 472,871 shares valued at approximately $10.56 million.
• The company recently reported earnings per share of $0.25, exceeding analyst expectations, although its revenue of $75.89 million was down 46.3% year-over-year.
• Dorian LPG announced a dividend of $0.50 per share, resulting in a substantial 13.5% dividend yield for shareholders.

Pacer Advisors Inc. decreased its position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 88.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 472,871 shares of the shipping company's stock after selling 3,654,446 shares during the period. Pacer Advisors Inc. owned about 1.10% of Dorian LPG worth $10,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LPG. Cetera Investment Advisers acquired a new position in shares of Dorian LPG during the first quarter valued at about $270,000. Jackson Hole Capital Partners LLC increased its holdings in Dorian LPG by 381.3% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 57,750 shares of the shipping company's stock worth $1,290,000 after acquiring an additional 45,750 shares during the period. IFP Advisors Inc increased its holdings in Dorian LPG by 4.2% during the 1st quarter. IFP Advisors Inc now owns 11,914 shares of the shipping company's stock worth $266,000 after acquiring an additional 477 shares during the period. CWM LLC increased its holdings in Dorian LPG by 74.5% during the 1st quarter. CWM LLC now owns 2,591 shares of the shipping company's stock worth $58,000 after acquiring an additional 1,106 shares during the period. Finally, Arizona State Retirement System increased its holdings in Dorian LPG by 4.8% during the 1st quarter. Arizona State Retirement System now owns 11,664 shares of the shipping company's stock worth $261,000 after acquiring an additional 532 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

Dorian LPG Stock Down 2.5%

NYSE:LPG traded down $0.74 on Thursday, reaching $28.73. 236,333 shares of the stock traded hands, compared to its average volume of 737,153. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 13.28 and a beta of 0.77. The company has a current ratio of 3.54, a quick ratio of 3.52 and a debt-to-equity ratio of 0.48. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $42.38. The company's fifty day simple moving average is $25.36 and its 200 day simple moving average is $23.29.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. The business had revenue of $75.89 million for the quarter, compared to analysts' expectations of $79.04 million. Dorian LPG had a net margin of 25.52% and a return on equity of 8.88%. The business's revenue was down 46.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 earnings per share. Equities analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued 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 dividend payout ratio (DPR) is currently 46.30%.

Analysts Set New Price Targets

LPG has been the subject of a number of research reports. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Jefferies Financial Group increased their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th.

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.