Texas Permanent School Fund Corp Grows Stock Holdings in Dorian LPG Ltd. (NYSE:LPG)

Texas Permanent School Fund Corp raised its holdings in Dorian LPG Ltd. (NYSE:LPG) by 44.1% during the second quarter, Holdings Channel.com reports. The firm owned 42,996 shares of the shipping company’s stock after purchasing an additional 13,154 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Dorian LPG were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in LPG. Beacon Capital Management LLC purchased a new stake in Dorian LPG in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC boosted its holdings in Dorian LPG by 60.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 395 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Dorian LPG by 26.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 379 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Dorian LPG in the 4th quarter valued at approximately $136,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Dorian LPG during the 1st quarter worth approximately $145,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Dorian LPG Price Performance

Shares of NYSE:LPG opened at $35.21 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.60 and a quick ratio of 4.58. Dorian LPG Ltd. has a 12 month low of $25.58 and a 12 month high of $51.66. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 4.63 and a beta of 0.99. The business’s 50 day simple moving average is $37.83 and its 200-day simple moving average is $40.41.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.23. Dorian LPG had a return on equity of 30.64% and a net margin of 54.48%. The firm had revenue of $114.30 million during the quarter, compared to the consensus estimate of $113.70 million. During the same period in the previous year, the firm posted $1.21 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that Dorian LPG Ltd. will post 4.94 earnings per share for the current fiscal year.

Dorian LPG Announces Dividend

The business also recently disclosed a None dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 8th. Dorian LPG’s dividend payout ratio is currently 13.16%.

Analysts Set New Price Targets

Several brokerages have recently commented on LPG. DNB Markets raised Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group boosted their price target on Dorian LPG from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd.

Insider Buying and Selling

In related news, COO Alexander C. Hadjipateras sold 2,500 shares of Dorian LPG stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $36.12, for a total transaction of $90,300.00. Following the completion of the transaction, the chief operating officer now directly owns 82,823 shares in the company, valued at approximately $2,991,566.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.90% of the company’s stock.

Dorian LPG Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.