Kingstone Capital Partners Texas LLC Invests $165.21 Million in Dorian LPG Ltd. $LPG

Kingstone Capital Partners Texas LLC bought a new position in Dorian LPG Ltd. (NYSE:LPG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,776,460 shares of the shipping company’s stock, valued at approximately $165,210,000. Kingstone Capital Partners Texas LLC owned 15.85% of Dorian LPG at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after buying an additional 1,315 shares during the period. Heck Capital Advisors LLC purchased a new position in Dorian LPG in the fourth quarter valued at about $37,000. Brooklyn Investment Group boosted its holdings in Dorian LPG by 2,087.8% in the first quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 1,879 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in Dorian LPG by 6,275.0% in the first quarter. Picton Mahoney Asset Management now owns 2,040 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 2,008 shares during the last quarter. Finally, CWM LLC boosted its holdings in Dorian LPG by 74.5% in the first quarter. CWM LLC now owns 2,591 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Dorian LPG Trading Down 1.5%

NYSE:LPG opened at $31.79 on Friday. The company has a quick ratio of 3.30, a current ratio of 3.32 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $30.44 and its two-hundred day moving average is $25.21. Dorian LPG Ltd. has a 52 week low of $16.66 and a 52 week high of $37.16. The company has a market cap of $1.36 billion, a PE ratio of 27.64 and a beta of 0.82.

Dorian LPG (NYSE:LPG) last released its earnings results on Friday, August 1st. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.34). Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The firm had revenue of $84.21 million for the quarter, compared to the consensus estimate of $86.53 million. During the same period in the prior year, the business earned $1.26 EPS. The company’s quarterly revenue was down 26.3% on a year-over-year basis. On average, analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Tuesday, August 12th.

Insider Buying and Selling

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total transaction of $161,900.00. Following the transaction, the chief operating officer owned 89,440 shares of the company’s stock, valued at $2,896,067.20. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen raised Dorian LPG from a “sell” rating to a “hold” rating in a report on Sunday, June 1st. Zacks Research downgraded Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Jefferies Financial Group increased their price target on Dorian LPG from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.