18,331 Shares of Dorian LPG Ltd. $LPG Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new stake in Dorian LPG Ltd. (NYSE:LPG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 18,331 shares of the shipping company’s stock, valued at approximately $1,009,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Dorian LPG by 4.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,807 shares of the shipping company’s stock valued at $375,000 after acquiring an additional 284 shares during the period. Sequoia Financial Advisors LLC grew its position in Dorian LPG by 4.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,341 shares of the shipping company’s stock worth $255,000 after acquiring an additional 307 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Dorian LPG by 14.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock worth $89,000 after purchasing an additional 318 shares during the period. Allworth Financial LP increased its stake in Dorian LPG by 65.9% in the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company’s stock worth $42,000 after purchasing an additional 479 shares during the period. Finally, SageGuard Financial Group LLC increased its stake in Dorian LPG by 6.1% in the 1st quarter. SageGuard Financial Group LLC now owns 11,285 shares of the shipping company’s stock worth $386,000 after purchasing an additional 653 shares during the period. Institutional investors own 62.50% of the company’s stock.

Insider Transactions at Dorian LPG

In related news, insider Tim Hansen sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the transaction, the insider owned 107,675 shares in the company, valued at $5,719,696. The trade was a 31.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore B. Young sold 11,919 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.50, for a total value of $649,585.50. Following the transaction, the chief financial officer owned 107,794 shares in the company, valued at approximately $5,874,773. This represents a 9.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 106,000 shares of company stock worth $5,455,849. Company insiders own 13.50% of the company’s stock.

Dorian LPG Trading Down 0.2%

Shares of LPG opened at $53.60 on Friday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 7.10 and a beta of 0.57. Dorian LPG Ltd. has a twelve month low of $23.76 and a twelve month high of $59.97. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $53.11 and a two-hundred day simple moving average of $44.67.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.40. The firm had revenue of $187.88 million for the quarter, compared to analysts’ expectations of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The company’s revenue for the quarter was up 123.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Freedom Capital upgraded Dorian LPG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Finally, Wall Street Zen cut shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $55.00.

Dorian LPG Profile

Dorian LPG Ltd. is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other liquefied gases for energy producers, commodity traders and industrial customers under voyage, time-charter and pool arrangements.

Dorian LPG focuses on very large gas carriers (VLGCs), which are designed to transport LPG in large quantities over international routes. Its vessels serve global energy markets, including major LPG export regions such as the United States and the Middle East and import markets in Asia, Europe and other regions.

Founded in 2013, Dorian LPG is headquartered in Stamford, Connecticut, and its shares trade on the New York Stock Exchange under the symbol LPG.