Louisiana State Employees Retirement System Takes Position in Dorian LPG Ltd. $LPG

Louisiana State Employees Retirement System bought a new stake in shares of Dorian LPG Ltd. (NYSE:LPG) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,300 shares of the shipping company’s stock, valued at approximately $557,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Dorian LPG by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,493,668 shares of the shipping company’s stock valued at $74,312,000 after acquiring an additional 13,241 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dorian LPG by 12.4% in the 4th quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock worth $45,635,000 after purchasing an additional 207,575 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dorian LPG by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company’s stock worth $27,184,000 after purchasing an additional 10,480 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Dorian LPG by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company’s stock worth $16,524,000 after purchasing an additional 23,974 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Dorian LPG by 55.8% during the 3rd quarter. Millennium Management LLC now owns 572,315 shares of the shipping company’s stock valued at $17,055,000 after purchasing an additional 204,861 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

LPG has been the subject of a number of research reports. Jefferies Financial Group increased their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Freedom Capital downgraded Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Weiss Ratings upgraded Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Finally, Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Insider Activity

In other Dorian LPG news, insider Tim Truels Hansen sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the sale, the insider directly owned 157,842 shares in the company, valued at approximately $5,584,449.96. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the transaction, the director directly owned 66,348 shares of the company’s stock, valued at $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.60% of the company’s stock.

Dorian LPG Stock Up 3.3%

LPG stock opened at $39.04 on Wednesday. The business has a 50 day moving average of $40.65 and a 200 day moving average of $34.70. The firm has a market cap of $1.67 billion, a PE ratio of 8.58 and a beta of 0.66. Dorian LPG Ltd. has a twelve month low of $23.76 and a twelve month high of $48.12. The company has a quick ratio of 2.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.40.

Dorian LPG (NYSE:LPG) last released its earnings results on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.41 by $0.48. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.The business had revenue of $153.27 million for the quarter, compared to the consensus estimate of $128.87 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 102.0% compared to the same quarter last year.

Dorian LPG Dividend Announcement

The company also recently declared a special dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were paid a $1.00 dividend. The ex-dividend date was Monday, May 18th. This represents a yield of 951.0%.

Dorian LPG Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.