Franklin Resources Inc. Sells 1,027 Shares of Dorian LPG Ltd. (NYSE:LPG)

Franklin Resources Inc. lessened its position in Dorian LPG Ltd. (NYSE:LPG) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,048 shares of the shipping company’s stock after selling 1,027 shares during the quarter. Franklin Resources Inc. owned 0.05% of Dorian LPG worth $763,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LPG. Quarry LP lifted its stake in Dorian LPG by 57.8% in the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after purchasing an additional 345 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Dorian LPG by 126.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after acquiring an additional 697 shares during the last quarter. CWM LLC boosted its holdings in Dorian LPG by 285.4% during the 3rd quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock valued at $71,000 after acquiring an additional 1,524 shares during the period. Ovata Capital Management Ltd bought a new position in Dorian LPG in the 2nd quarter valued at $210,000. Finally, Sei Investments Co. purchased a new stake in Dorian LPG in the second quarter worth $289,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Dorian LPG Stock Performance

Dorian LPG stock opened at $23.91 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.20 and a current ratio of 4.22. The company has a market capitalization of $1.02 billion, a PE ratio of 4.05 and a beta of 0.93. The company has a 50 day moving average price of $26.07 and a 200-day moving average price of $33.82. Dorian LPG Ltd. has a fifty-two week low of $22.46 and a fifty-two week high of $51.66.

Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.17). The firm had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $82.40 million. Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. Dorian LPG’s quarterly revenue was down 43.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.85 earnings per share. As a group, equities analysts forecast that Dorian LPG Ltd. will post 3.45 earnings per share for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, November 25th. Shareholders of record on Tuesday, November 5th were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, November 5th. Dorian LPG’s dividend payout ratio (DPR) is 16.95%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and set a $42.00 target price on shares of Dorian LPG in a research note on Thursday, October 31st.

Dorian LPG Profile

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.