Dorian LPG Ltd. (NYSE:LPG) Position Boosted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its holdings in Dorian LPG Ltd. (NYSE:LPG) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,200 shares of the shipping company’s stock after buying an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Dorian LPG were worth $722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Capital Group California Inc. bought a new position in Dorian LPG in the 4th quarter worth approximately $1,065,000. First Eagle Investment Management LLC boosted its stake in Dorian LPG by 23.2% during the 1st quarter. First Eagle Investment Management LLC now owns 266,875 shares of the shipping company’s stock valued at $10,264,000 after purchasing an additional 50,200 shares in the last quarter. Harvest Investment Services LLC bought a new position in Dorian LPG during the 4th quarter valued at $1,424,000. Price T Rowe Associates Inc. MD boosted its stake in Dorian LPG by 844.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 224,958 shares of the shipping company’s stock valued at $8,653,000 after purchasing an additional 201,134 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Dorian LPG by 16.7% during the 1st quarter. Vanguard Group Inc. now owns 2,133,837 shares of the shipping company’s stock valued at $82,067,000 after purchasing an additional 305,818 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LPG. DNB Markets raised Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, July 3rd. StockNews.com lowered Dorian LPG from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group increased their price target on Dorian LPG from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd.

Insider Activity

In other news, COO Alexander C. Hadjipateras sold 2,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $36.12, for a total value of $90,300.00. Following the completion of the sale, the chief operating officer now owns 82,823 shares in the company, valued at $2,991,566.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.90% of the company’s stock.

Dorian LPG Stock Performance

LPG opened at $38.25 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of 5.03 and a beta of 0.97. The company has a quick ratio of 3.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $39.64 and a 200-day simple moving average of $40.35. Dorian LPG Ltd. has a fifty-two week low of $24.87 and a fifty-two week high of $51.66.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.23. The business had revenue of $114.30 million during the quarter, compared to analyst estimates of $113.70 million. Dorian LPG had a return on equity of 30.64% and a net margin of 54.48%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $1.21 EPS. As a group, equities analysts predict that Dorian LPG Ltd. will post 4.72 EPS for the current fiscal year.

Dorian LPG Dividend Announcement

The firm also recently announced a None dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were issued a $1.00 dividend. The ex-dividend date was Thursday, August 8th. Dorian LPG’s payout ratio is currently 13.16%.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.