Geode Capital Management LLC Has $27.12 Million Stock Holdings in Dorian LPG Ltd. $LPG

Geode Capital Management LLC lifted its stake in Dorian LPG Ltd. (NYSE:LPG) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,112,333 shares of the shipping company’s stock after acquiring an additional 40,859 shares during the quarter. Geode Capital Management LLC owned approximately 2.61% of Dorian LPG worth $27,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Dorian LPG in the second quarter valued at approximately $29,000. Evermay Wealth Management LLC bought a new position in shares of Dorian LPG in the second quarter valued at $32,000. NewEdge Advisors LLC grew its stake in shares of Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,315 shares in the last quarter. Brooklyn Investment Group increased its holdings in Dorian LPG by 2,087.8% during the first quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company’s stock worth $44,000 after buying an additional 1,879 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its position in Dorian LPG by 6,275.0% during the first 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. Institutional investors own 62.50% of the company’s stock.

Insiders Place Their Bets

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total transaction of $161,900.00. Following the completion of the sale, the chief operating officer owned 89,440 shares of the company’s stock, valued at approximately $2,896,067.20. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.60% of the stock is owned by insiders.

Dorian LPG Stock Up 0.8%

Shares of LPG opened at $24.78 on Friday. The firm has a market cap of $1.06 billion, a P/E ratio of 11.11 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.30 and a current ratio of 3.32. Dorian LPG Ltd. has a 52 week low of $16.66 and a 52 week high of $32.79. The firm’s 50-day simple moving average is $27.61 and its 200 day simple moving average is $27.49.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Wednesday, November 5th. The shipping company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.09). Dorian LPG had a return on equity of 9.13% and a net margin of 26.02%.The firm had revenue of $124.06 million for the quarter, compared to the consensus estimate of $126.99 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 50.6% on a year-over-year basis. On average, analysts forecast that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.60 dividend on an annualized basis and a yield of 10.5%. This is a positive change from Dorian LPG’s previous quarterly dividend of $0.60.

Wall Street Analysts Forecast Growth

LPG has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Dorian LPG in a research report on Wednesday, November 19th. Pareto Securities cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Zacks Research downgraded Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen cut Dorian LPG from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Dorian LPG has an average rating of “Hold” and an average target price of $35.00.

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.