Persistent Asset Partners Ltd Buys New Shares in Dorian LPG Ltd. $LPG

Key Points

• Persistent Asset Partners Ltd. opened a new position in Dorian LPG, buying 45,131 shares valued at about $1.1 million in the fourth quarter.
• Institutional ownership remains high, with several other large investors such as Vanguard and Dimensional Fund Advisors also adding shares; institutions now own 62.5% of the company.
• Dorian LPG reported strong results and shareholder returns, beating earnings and revenue estimates for the quarter and recently paying a special dividend of $1.00 per share.

Persistent Asset Partners Ltd bought a new stake in Dorian LPG Ltd. (NYSE:LPG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,131 shares of the shipping company's stock, valued at approximately $1,098,000. Persistent Asset Partners Ltd owned about 0.11% of Dorian LPG as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LPG. Dimensional Fund Advisors LP grew its stake in shares of Dorian LPG by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,493,668 shares of the shipping company's stock valued at $74,312,000 after buying an additional 13,241 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Dorian LPG by 12.4% during the fourth quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company's stock valued at $45,635,000 after buying an additional 207,575 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Dorian LPG by 6.2% during the third quarter. American Century Companies Inc. now owns 1,697,048 shares of the shipping company's stock valued at $50,572,000 after buying an additional 99,485 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dorian LPG by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company's stock valued at $27,184,000 after buying an additional 10,480 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Dorian LPG by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company's stock valued at $16,524,000 after buying an additional 23,974 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Insider Activity

In other news, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the transaction, the director directly owned 66,348 shares in the company, valued at approximately $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.60% of the company's stock.

Wall Street Analyst Weigh In

LPG has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Weiss Ratings raised Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. Dnb Carnegie raised Dorian LPG from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Dorian LPG Stock Performance

Shares of LPG opened at $41.40 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.65. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $48.12. The company has a 50-day simple moving average of $39.96 and a two-hundred day simple moving average of $33.32. The firm has a market capitalization of $1.77 billion, a PE ratio of 9.10 and a beta of 0.62.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.41 by $0.48. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The business had revenue of $153.27 million during the quarter, compared to analyst estimates of $128.87 million. During the same period last year, the business posted $0.25 earnings per share. Dorian LPG's quarterly revenue was up 102.0% compared to the same quarter last year.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $1.00 per share. This represents a dividend yield of 951.0%. The ex-dividend date was Monday, May 18th. Dorian LPG's dividend payout ratio (DPR) is presently 21.98%.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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