First Eagle Investment Management LLC Buys 14,600 Shares of Dorian LPG Ltd. (NYSE:LPG)

First Eagle Investment Management LLC grew its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 281,475 shares of the shipping company’s stock after buying an additional 14,600 shares during the quarter. First Eagle Investment Management LLC’s holdings in Dorian LPG were worth $11,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Beacon Capital Management LLC bought a new position in Dorian LPG in the first quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of Dorian LPG by 60.3% during the second quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock worth $44,000 after purchasing an additional 395 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Dorian LPG by 26.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after purchasing an additional 379 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in Dorian LPG in the 4th quarter valued at $136,000. Finally, SG Americas Securities LLC bought a new stake in Dorian LPG during the 1st quarter valued at $145,000. Institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 2,500 shares of the company’s 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 transaction, the chief operating officer now owns 82,823 shares in the company, valued at approximately $2,991,566.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, DNB Markets raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, July 3rd.

Dorian LPG Price Performance

Shares of NYSE:LPG opened at $35.39 on Friday. The stock’s fifty day simple moving average is $37.71 and its two-hundred day simple moving average is $40.37. The stock has a market cap of $1.44 billion, a PE ratio of 4.66 and a beta of 0.99. The company has a current ratio of 4.60, a quick ratio of 4.58 and a debt-to-equity ratio of 0.48. Dorian LPG Ltd. has a 1-year low of $25.58 and a 1-year high of $51.66.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.23. Dorian LPG had a net margin of 54.48% and a return on equity of 30.64%. The business had revenue of $114.30 million during the quarter, compared to the consensus estimate of $113.70 million. During the same period in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts forecast that Dorian LPG Ltd. will post 4.94 EPS for the current fiscal year.

Dorian LPG Announces Dividend

The firm also recently declared a None dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 8th. Dorian LPG’s payout ratio is 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.