Los Angeles Capital Management LLC Cuts Position in Dorian LPG Ltd. (NYSE:LPG)

Los Angeles Capital Management LLC cut its holdings in Dorian LPG Ltd. (NYSE:LPG) by 68.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,927 shares of the shipping company’s stock after selling 36,474 shares during the period. Los Angeles Capital Management LLC’s holdings in Dorian LPG were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Olympiad Research LP grew its stake in Dorian LPG by 324.6% in the 3rd quarter. Olympiad Research LP now owns 23,129 shares of the shipping company’s stock valued at $796,000 after purchasing an additional 17,682 shares during the period. Farther Finance Advisors LLC increased its holdings in Dorian LPG by 98.9% during the third quarter. Farther Finance Advisors LLC now owns 20,577 shares of the shipping company’s stock worth $708,000 after buying an additional 10,229 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Dorian LPG by 1.9% during the third quarter. New York State Teachers Retirement System now owns 21,640 shares of the shipping company’s stock worth $745,000 after buying an additional 394 shares during the last quarter. State of Alaska Department of Revenue raised its position in Dorian LPG by 3.3% in the third quarter. State of Alaska Department of Revenue now owns 20,672 shares of the shipping company’s stock worth $711,000 after acquiring an additional 652 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Dorian LPG in the third quarter valued at about $2,238,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Dorian LPG in a report on Thursday, October 31st.

Dorian LPG Trading Down 5.6 %

Shares of LPG opened at $26.00 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of 4.41 and a beta of 1.00. Dorian LPG Ltd. has a fifty-two week low of $25.80 and a fifty-two week high of $51.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.20 and a current ratio of 4.22. The business has a 50-day moving average of $32.38 and a 200 day moving average of $38.34.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a net margin of 47.87% and a return on equity of 23.75%. The business had revenue of $82.40 million for the quarter, compared to analysts’ expectations of $82.40 million. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s quarterly revenue was down 43.1% compared to the same quarter last year. As a group, research analysts forecast that Dorian LPG Ltd. will post 3.45 EPS for the current year.

Dorian LPG Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th will be given a $1.00 dividend. The ex-dividend date is Tuesday, November 5th.

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.