Russell Investments Group Ltd. lowered its position in Dorian LPG Ltd. (NYSE:LPG) by 55.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,242 shares of the shipping company’s stock after selling 91,664 shares during the period. Russell Investments Group Ltd.’s holdings in Dorian LPG were worth $1,031,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in LPG. Millennium Management LLC bought a new position in Dorian LPG in the first quarter worth approximately $12,540,000. Factorial Partners LLC purchased a new stake in shares of Dorian LPG in the first quarter worth approximately $31,804,000. TD Asset Management Inc. raised its stake in shares of Dorian LPG by 644.9% in the first quarter. TD Asset Management Inc. now owns 212,300 shares of the shipping company’s stock worth $2,787,000 after purchasing an additional 183,800 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Dorian LPG in the first quarter worth approximately $1,398,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Dorian LPG in the first quarter worth approximately $1,247,000. Institutional investors and hedge funds own 73.26% of the company’s stock.
In other Dorian LPG news, EVP Alexander C. Hadjipateras sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $12.95, for a total transaction of $64,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.60% of the stock is owned by company insiders.
Dorian LPG (NYSE:LPG) last announced its earnings results on Wednesday, August 4th. The shipping company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.26). Dorian LPG had a return on equity of 8.03% and a net margin of 28.22%. The company had revenue of $62.95 million during the quarter.
The firm also recently declared a Not Available dividend, which was paid on Wednesday, September 8th. Shareholders of record on Monday, August 9th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 6th. This represents a yield of 32.71%.
Several brokerages have recently commented on LPG. UBS Group began coverage on Dorian LPG in a research note on Friday, August 27th. They issued a “buy” rating and a $19.00 price objective for the company. Evercore ISI reissued an “in-line” rating and issued a $15.00 price objective on shares of Dorian LPG in a research note on Tuesday, May 25th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.13.
Dorian LPG Company Profile
Dorian LPG Ltd. is a holding company which engages in the transportation of liquefied petroleum gas. It focus on managing gas carriers and developing customer services. The firm also offers in-house commercial and technical management services to vessels in their fleet and vessels deployed in the Helios Pool.
Further Reading: Why are analyst ratings important in trading stocks?
Want to see what other hedge funds are holding LPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dorian LPG Ltd. (NYSE:LPG).
Receive News & Ratings for Dorian LPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorian LPG and related companies with MarketBeat.com's FREE daily email newsletter.