Procyon Advisors LLC Reduces Holdings in Dorian LPG Ltd. (NYSE:LPG)

Procyon Advisors LLC decreased its position in Dorian LPG Ltd. (NYSE:LPG) by 32.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,175 shares of the shipping company’s stock after selling 7,451 shares during the period. Procyon Advisors LLC’s holdings in Dorian LPG were worth $522,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LPG. Beacon Capital Management LLC purchased a new stake in shares of Dorian LPG in the 1st quarter valued at approximately $27,000. Quarry LP boosted its position in shares of Dorian LPG by 57.8% during the 2nd quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after purchasing an additional 345 shares during the period. GAMMA Investing LLC boosted its position in shares of Dorian LPG by 60.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock worth $44,000 after purchasing an additional 395 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Dorian LPG by 126.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after purchasing an additional 697 shares during the period. Finally, CWM LLC boosted its position in shares of Dorian LPG by 285.4% during the 3rd quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,524 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insiders Place Their Bets

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 2,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $36.12, for a total transaction of $90,300.00. Following the sale, the chief operating officer now directly owns 82,823 shares in the company, valued at $2,991,566.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, DNB Markets raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, July 3rd.

Dorian LPG Stock Performance

NYSE:LPG opened at $33.54 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.58 and a current ratio of 4.60. The stock has a market capitalization of $1.36 billion, a P/E ratio of 4.41 and a beta of 0.98. The company has a 50 day moving average price of $35.99 and a 200 day moving average price of $40.09. Dorian LPG Ltd. has a fifty-two week low of $29.26 and a fifty-two week high of $51.66.

Dorian LPG (NYSE:LPG) last released its earnings results on Thursday, August 1st. The shipping company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.23. The company had revenue of $114.30 million for the quarter, compared to analyst estimates of $113.70 million. Dorian LPG had a net margin of 54.48% and a return on equity of 30.64%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. Equities research analysts forecast that Dorian LPG Ltd. will post 4.13 EPS for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced a None dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, August 8th. Dorian LPG’s dividend payout ratio (DPR) is presently 13.16%.

About Dorian LPG

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.