Victory Capital Management Inc. Increases Stock Position in Dorian LPG Ltd. (NYSE:LPG)

Victory Capital Management Inc. lifted its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 119.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,420 shares of the shipping company’s stock after acquiring an additional 47,558 shares during the period. Victory Capital Management Inc. owned 0.21% of Dorian LPG worth $3,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LPG. Charles Schwab Investment Management Inc. grew its position in shares of Dorian LPG by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 427,986 shares of the shipping company’s stock worth $18,776,000 after acquiring an additional 10,493 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Dorian LPG by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 194,047 shares of the shipping company’s stock worth $8,513,000 after acquiring an additional 892 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Dorian LPG by 149.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 170,187 shares of the shipping company’s stock valued at $7,466,000 after buying an additional 101,840 shares during the last quarter. ProVise Management Group LLC purchased a new position in Dorian LPG in the 4th quarter valued at $237,000. Finally, Olympiad Research LP purchased a new position in Dorian LPG in the 4th quarter valued at $375,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LPG shares. Jefferies Financial Group lifted their price objective on shares of Dorian LPG from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. DNB Markets upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, July 3rd.

Dorian LPG Price Performance

Dorian LPG stock opened at $35.10 on Tuesday. 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 business has a fifty day moving average of $38.07 and a two-hundred day moving average of $40.45. The company has a market cap of $1.43 billion, a P/E ratio of 4.62 and a beta of 0.99.

Dorian LPG (NYSE:LPG) last released its earnings results on Thursday, August 1st. The shipping company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $1.21 earnings per share. Dorian LPG’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts predict that Dorian LPG Ltd. will post 4.94 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The firm also recently announced a None dividend, which was paid on Wednesday, August 21st. Shareholders 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 (DPR) is currently 13.16%.

Insider Buying and Selling at Dorian LPG

In other Dorian LPG 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 value of $90,300.00. Following the completion of the sale, the chief operating officer now owns 82,823 shares of the company’s stock, valued at $2,991,566.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.90% of the stock is owned by corporate insiders.

Dorian LPG Company Profile

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.