Geode Capital Management LLC Raises Stake in Dorian LPG Ltd. (NYSE:LPG)

Geode Capital Management LLC increased its stake in Dorian LPG Ltd. (NYSE:LPG) by 9.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 964,222 shares of the shipping company’s stock after acquiring an additional 80,757 shares during the quarter. Geode Capital Management LLC’s holdings in Dorian LPG were worth $33,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LPG. Raymond James & Associates raised its stake in shares of Dorian LPG by 26.3% during the second quarter. Raymond James & Associates now owns 37,055 shares of the shipping company’s stock valued at $1,555,000 after acquiring an additional 7,723 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Dorian LPG by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the shipping company’s stock worth $722,000 after purchasing an additional 300 shares during the period. Bank of New York Mellon Corp raised its position in Dorian LPG by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 257,096 shares of the shipping company’s stock valued at $10,788,000 after purchasing an additional 2,939 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Dorian LPG by 3.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 113,264 shares of the shipping company’s stock worth $4,753,000 after buying an additional 3,280 shares during the period. Finally, Arkadios Wealth Advisors grew its position in shares of Dorian LPG by 18.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 6,285 shares of the shipping company’s stock worth $264,000 after buying an additional 975 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Dorian LPG Stock Performance

Shares of NYSE:LPG opened at $24.35 on Thursday. The firm has a 50 day moving average of $26.61 and a 200 day moving average of $34.23. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 4.13 and a beta of 0.93. Dorian LPG Ltd. has a 52 week low of $22.46 and a 52 week high of $51.66.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The company had revenue of $82.40 million during the quarter, compared to the consensus estimate of $82.40 million. During the same period in the previous year, the firm posted $1.85 earnings per share. The company’s revenue was down 43.1% on a year-over-year basis. On average, sell-side analysts predict that Dorian LPG Ltd. will post 3.45 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th were issued a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, November 5th.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Dorian LPG in a research note on Thursday, October 31st.

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.