Dorian LPG Ltd. (NYSE:LPG) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd reduced its holdings in Dorian LPG Ltd. (NYSE:LPG) by 61.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,401 shares of the shipping company’s stock after selling 3,825 shares during the quarter. Point72 DIFC Ltd’s holdings in Dorian LPG were worth $101,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in Dorian LPG by 22.4% during the second quarter. Pacer Advisors Inc. now owns 3,063,551 shares of the shipping company’s stock valued at $128,547,000 after acquiring an additional 560,325 shares during the period. Marshall Wace LLP grew its position in Dorian LPG by 435.3% during the second quarter. Marshall Wace LLP now owns 457,119 shares of the shipping company’s stock valued at $19,181,000 after acquiring an additional 371,724 shares during the period. Vanguard Group Inc. grew its position in Dorian LPG by 16.7% during the first quarter. Vanguard Group Inc. now owns 2,133,837 shares of the shipping company’s stock valued at $82,067,000 after acquiring an additional 305,818 shares during the period. Price T Rowe Associates Inc. MD grew its position in Dorian LPG by 844.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 224,958 shares of the shipping company’s stock valued at $8,653,000 after acquiring an additional 201,134 shares during the period. Finally, PEAK6 Investments LLC purchased a new stake in Dorian LPG during the first quarter valued at about $6,851,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, 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 report on Wednesday, July 3rd.

Insider Activity at Dorian LPG

In related news, COO Alexander C. Hadjipateras sold 2,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,991,566.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is currently owned by company insiders.

Dorian LPG Price Performance

Shares of NYSE LPG opened at $34.02 on Friday. Dorian LPG Ltd. has a 1-year low of $25.58 and a 1-year high of $51.66. The business has a 50-day moving average of $37.14 and a 200-day moving average of $40.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.60 and a quick ratio of 4.58. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 4.48 and a beta of 0.99.

Dorian LPG (NYSE:LPG) last issued its earnings results 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. Dorian LPG had a return on equity of 30.64% and a net margin of 54.48%. The company had revenue of $114.30 million during the quarter, compared to the consensus estimate of $113.70 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Dorian LPG Ltd. will post 4.94 EPS for the current fiscal year.

Dorian LPG Dividend Announcement

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