Point72 Asia Singapore Pte. Ltd. Raises Position in Dorian LPG Ltd. (NYSE:LPG)

Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 126.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,247 shares of the shipping company’s stock after buying an additional 697 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Dorian LPG were worth $52,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC bought a new position in shares of Dorian LPG during the first quarter valued at approximately $27,000. GAMMA Investing LLC lifted its stake in shares of Dorian LPG by 60.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 395 shares during the period. PNC Financial Services Group Inc. raised its holdings in Dorian LPG by 26.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after purchasing an additional 379 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of Dorian LPG during the 4th quarter valued at $136,000. Finally, SG Americas Securities LLC bought a new position in shares of Dorian LPG in the 1st quarter worth about $145,000. Institutional investors own 62.50% of the company’s stock.

Dorian LPG Trading Up 1.3 %

Dorian LPG stock opened at $34.42 on Tuesday. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 4.53 and a beta of 0.99. Dorian LPG Ltd. has a 12-month low of $25.58 and a 12-month high of $51.66. The firm has a 50 day moving average of $36.92 and a 200 day moving average of $40.28. The company has a current ratio of 4.60, a quick ratio of 4.58 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.23. The firm had revenue of $114.30 million during the quarter, compared to analyst estimates of $113.70 million. Dorian LPG had a return on equity of 30.64% and a net margin of 54.48%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, research analysts predict that Dorian LPG Ltd. will post 4.94 earnings per share for the current year.

Dorian LPG Announces Dividend

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

Insider Transactions at Dorian LPG

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 2,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $36.12, for a total value of $90,300.00. Following the transaction, the chief operating officer now directly owns 82,823 shares in the company, valued at approximately $2,991,566.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.