Victory Capital Management Inc. Trims Holdings in Dorian LPG Ltd. (NYSE:LPG)

Key Points

• Victory Capital Management Inc. reduced its holdings in Dorian LPG Ltd. by 12.7%, owning approximately 157,827 shares worth $3.53 million after selling 22,874 shares in the first quarter.
• Dorian LPG declared a dividend of $0.50 per share, yielding 13.5%, with the payment made on May 30th to stockholders of record from May 19th.
• Despite reporting a quarterly earnings per share of $0.25, Dorian LPG's revenue dropped 46.3% year-over-year, coming in at $75.89 million, falling short of analysts' expectations.

Victory Capital Management Inc. cut its stake in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,827 shares of the shipping company's stock after selling 22,874 shares during the quarter. Victory Capital Management Inc. owned approximately 0.37% of Dorian LPG worth $3,526,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LPG. Heck Capital Advisors LLC bought a new position in Dorian LPG in the 4th quarter worth approximately $37,000. Quarry LP boosted its position in shares of Dorian LPG by 155.3% during the 4th quarter. Quarry LP now owns 2,035 shares of the shipping company's stock valued at $50,000 after acquiring an additional 1,238 shares during the last quarter. CWM LLC boosted its position in shares of Dorian LPG by 74.5% during 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 during the last quarter. GAMMA Investing LLC boosted its position in shares of Dorian LPG by 50.4% during the 1st quarter. GAMMA Investing LLC now owns 3,299 shares of the shipping company's stock valued at $74,000 after acquiring an additional 1,105 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Dorian LPG during the 4th quarter valued at approximately $118,000. 62.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LPG shares. Wall Street Zen upgraded Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Jefferies Financial Group increased their target price on 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 Price Performance

Shares of NYSE LPG traded down $1.04 during midday trading on Thursday, reaching $28.43. 156,950 shares of the stock traded hands, compared to its average volume of 736,434. The company's 50 day moving average is $25.36 and its 200 day moving average is $23.29. Dorian LPG Ltd. has a one year low of $16.66 and a one year high of $42.38. The stock has a market capitalization of $1.21 billion, a PE ratio of 13.19 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.54 and a quick ratio of 3.52.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The shipping company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.08. Dorian LPG had a return on equity of 8.88% and a net margin of 25.52%. 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 firm posted $1.91 EPS. Dorian LPG's quarterly revenue was down 46.3% compared to the same quarter last year. On average, equities research analysts anticipate that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued 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 presently 46.30%.

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.