State of Alaska Department of Revenue Acquires 1,485 Shares of Dorian LPG Ltd. $LPG

State of Alaska Department of Revenue increased its position in shares of Dorian LPG Ltd. (NYSE:LPG) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,645 shares of the shipping company’s stock after buying an additional 1,485 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Dorian LPG worth $526,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Dorian LPG during the second quarter worth about $29,000. NewEdge Advisors LLC boosted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,315 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Dorian LPG by 2,087.8% in the 1st quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,879 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of Dorian LPG by 6,275.0% in the 1st quarter. Picton Mahoney Asset Management now owns 2,040 shares of the shipping company’s stock worth $46,000 after acquiring an additional 2,008 shares in the last quarter. Finally, CWM LLC raised its position in Dorian LPG by 74.5% in the 1st quarter. CWM LLC now owns 2,591 shares of the shipping company’s stock worth $58,000 after purchasing an additional 1,106 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Dorian LPG Price Performance

Shares of NYSE LPG opened at $27.53 on Thursday. The firm has a market cap of $1.17 billion, a PE ratio of 23.94 and a beta of 0.77. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47. Dorian LPG Ltd. has a 1-year low of $16.66 and a 1-year high of $35.37. The company has a fifty day moving average price of $30.70 and a 200 day moving average price of $25.95.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data 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 business had revenue of $84.21 million for the quarter, compared to analyst estimates of $86.53 million. During the same quarter in the prior year, the company earned $1.26 earnings per share. The company’s quarterly revenue was down 26.3% on a year-over-year basis. Research analysts predict that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date was Tuesday, August 12th.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LPG shares. Jefferies Financial Group boosted their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Zacks Research cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Activity at Dorian LPG

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $32.38, for a total transaction of $161,900.00. Following the completion of the transaction, the chief operating officer directly owned 89,440 shares in the company, valued at $2,896,067.20. This 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.

Dorian LPG Company 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.