VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in Dorian LPG Ltd. $LPG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Dorian LPG Ltd. (NYSE:LPG) in the 2nd quarter, HoldingsChannel reports. The firm acquired 42,500 shares of the shipping company’s stock, valued at approximately $1,478,000.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its stake in shares of Dorian LPG by 3,299.8% in the second quarter. California State Teachers Retirement System now owns 1,765,641 shares of the shipping company’s stock worth $61,409,000 after acquiring an additional 1,713,708 shares during the last quarter. BTG Pactual Asset Management US LLC purchased a new position in Dorian LPG in the 2nd quarter valued at $234,000. Navellier & Associates Inc. purchased a new position in Dorian LPG in the 2nd quarter valued at $2,158,000. Public Employees Retirement System of Ohio acquired a new stake in Dorian LPG during the 2nd quarter worth $37,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Dorian LPG by 2,540.0% during the first quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company’s stock worth $6,513,000 after buying an additional 183,232 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LPG. Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research note on Thursday, May 21st. Wall Street Zen upgraded Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Jefferies Financial Group increased their price target on Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $55.00.

Dorian LPG Price Performance

Shares of LPG stock opened at $55.19 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24. The company has a market capitalization of $2.36 billion, a PE ratio of 7.31 and a beta of 0.61. The firm’s 50-day moving average is $46.59 and its two-hundred day moving average is $40.83. Dorian LPG Ltd. has a 12 month low of $23.76 and a 12 month high of $55.49.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Tuesday, August 4th. The shipping company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.40. The business had revenue of $187.88 million during the quarter, compared to analysts’ expectations of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The business’s revenue for the quarter was up 123.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, July 27th.

Insider Buying and Selling at Dorian LPG

In other Dorian LPG news, COO Alexander Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.13, for a total value of $270,650.00. Following the sale, the chief operating officer owned 95,836 shares in the company, valued at $5,187,602.68. The trade was a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Theodore Young sold 11,919 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.50, for a total value of $649,585.50. Following the transaction, the chief financial officer owned 107,794 shares of the company’s stock, valued at approximately $5,874,773. This represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 126,000 shares of company stock worth $6,163,449 over the last quarter. 13.50% of the stock is currently owned by company insiders.

Dorian LPG Company Profile

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG’s fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.