VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 42,500 Dorian LPG Ltd. $LPG

Key Points

• Virginia Retirement Systems acquired 42,500 shares of Dorian LPG, valued at approximately $1.48 million, while institutional investors collectively own 62.5% of the company.
• Dorian LPG reported strong quarterly results, with adjusted earnings of $2.52 per share and revenue of $187.88 million, representing 123.1% year-over-year growth.
• The stock was trading near its 12-month high at $55.19, supported by a consensus “Buy” rating and a recently paid special dividend of $1.00 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Dorian LPG Ltd. (NYSE:LPG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,500 shares of the shipping company's stock, valued at approximately $1,478,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.10% of Dorian LPG as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LPG. California State Teachers Retirement System boosted its position in Dorian LPG by 3,299.8% in the second quarter. California State Teachers Retirement System now owns 1,765,641 shares of the shipping company's stock valued at $61,409,000 after buying an additional 1,713,708 shares during the last quarter. BTG Pactual Asset Management US LLC purchased a new position in Dorian LPG during the 2nd quarter worth approximately $234,000. Navellier & Associates Inc. purchased a new position in Dorian LPG during the 2nd quarter worth approximately $2,158,000. Public Employees Retirement System of Ohio purchased a new position in Dorian LPG during the 2nd quarter worth approximately $37,000. Finally, Pacer Advisors Inc. lifted its stake in Dorian LPG by 2,540.0% during the 1st quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company's stock valued at $6,513,000 after acquiring an additional 183,232 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

Dorian LPG Trading Up 1.4%

Dorian LPG stock opened at $55.19 on Friday. The company has a current ratio of 3.26, a quick ratio of 3.24 and a debt-to-equity ratio of 0.28. Dorian LPG Ltd. has a 12 month low of $23.76 and a 12 month high of $55.49. The stock's 50 day simple moving average is $46.59 and its two-hundred day simple moving average is $40.83. The firm has a market cap of $2.36 billion, a PE ratio of 7.31 and a beta of 0.61.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.40. The business had revenue of $187.88 million for the quarter, compared to analysts' expectations of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The business's revenue was up 123.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS.

Dorian LPG Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, July 27th.

Wall Street Analyst Weigh In

LPG has been the topic of a number of research reports. Dnb Carnegie upgraded shares of Dorian LPG from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Jefferies Financial Group boosted their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Wall Street Zen raised shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Freedom Capital raised Dorian LPG from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Dorian LPG in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $55.00.

Insider Transactions at Dorian LPG

In other Dorian LPG news, CFO Theodore B. Young sold 11,919 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.50, for a total value of $649,585.50. Following the sale, the chief financial officer directly owned 107,794 shares of the company's stock, valued at approximately $5,874,773. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tim Hansen sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total value of $2,656,000.00. Following the completion of the sale, the insider owned 107,675 shares of the company's stock, valued at $5,719,696. This trade represents a 31.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,000 shares of company stock valued at $6,163,449 in the last ninety days. 13.50% of the stock is currently owned by corporate insiders.

Dorian LPG Company Profile

Dorian LPG Ltd. NYSE: LPG is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG's fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.

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