Dorian LPG Ltd. (NYSE:LPG) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its position in Dorian LPG Ltd. (NYSE:LPG) by 49.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,953 shares of the shipping company’s stock after purchasing an additional 12,153 shares during the period. Point72 Asset Management L.P.’s holdings in Dorian LPG were worth $1,551,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System increased its holdings in shares of Dorian LPG by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the shipping company’s stock valued at $722,000 after purchasing an additional 300 shares during the period. Saxony Capital Management LLC boosted its stake in shares of Dorian LPG by 5.9% in the first quarter. Saxony Capital Management LLC now owns 5,572 shares of the shipping company’s stock worth $214,000 after buying an additional 309 shares during the last quarter. Gallacher Capital Management LLC boosted its stake in shares of Dorian LPG by 4.9% in the second quarter. Gallacher Capital Management LLC now owns 7,355 shares of the shipping company’s stock worth $309,000 after buying an additional 343 shares during the last quarter. Quarry LP boosted its stake in shares of Dorian LPG by 57.8% in the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after buying an additional 345 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Dorian LPG by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 29,842 shares of the shipping company’s stock worth $1,148,000 after buying an additional 375 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Dorian LPG Price Performance

NYSE:LPG opened at $36.13 on Friday. Dorian LPG Ltd. has a one year low of $25.58 and a one year high of $51.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.58 and a current ratio of 4.60. The stock has a market cap of $1.47 billion, a PE ratio of 4.75 and a beta of 0.99. The stock has a 50 day moving average price of $36.69 and a 200 day moving average price of $40.21.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.03 by $0.23. The firm had revenue of $114.30 million during the quarter, compared to analysts’ expectations of $113.70 million. Dorian LPG had a return on equity of 30.64% and a net margin of 54.48%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Equities research analysts expect that Dorian LPG Ltd. will post 4.94 EPS for the current fiscal year.

Dorian LPG Announces Dividend

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

Insider Transactions at Dorian LPG

In other news, COO Alexander C. Hadjipateras sold 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $36.12, for a total transaction of $90,300.00. Following the completion of the transaction, the chief operating officer now directly owns 82,823 shares in the company, valued at $2,991,566.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 15.90% of the company’s stock.

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.