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

Los Angeles Capital Management LLC cut its position in Dorian LPG Ltd. (NYSE:LPG) by 68.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,927 shares of the shipping company’s stock after selling 36,474 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Dorian LPG were worth $583,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Dorian LPG during the first quarter worth about $145,000. Swiss National Bank lifted its position in Dorian LPG by 6.9% in the 1st quarter. Swiss National Bank now owns 68,085 shares of the shipping company’s stock worth $2,619,000 after buying an additional 4,400 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Dorian LPG by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,946 shares of the shipping company’s stock valued at $267,000 after purchasing an additional 480 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Dorian LPG by 963.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 97,356 shares of the shipping company’s stock valued at $3,744,000 after buying an additional 88,205 shares during the period. Finally, Vanguard Group Inc. grew its position in Dorian LPG by 16.7% during the 1st quarter. Vanguard Group Inc. now owns 2,133,837 shares of the shipping company’s stock worth $82,067,000 after acquiring an additional 305,818 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Dorian LPG Price Performance

LPG stock opened at $26.00 on Friday. The firm has a 50-day moving average of $32.38 and a 200 day moving average of $38.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.22 and a quick ratio of 4.20. The company 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 1 year low of $25.80 and a 1 year high of $51.66.

Dorian LPG (NYSE:LPG) last released its 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). The firm had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $82.40 million. Dorian LPG had a net margin of 47.87% and a return on equity of 23.75%. The company’s revenue for the quarter was down 43.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 EPS. On average, sell-side analysts forecast that Dorian LPG Ltd. will post 3.45 EPS for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, November 5th.

Dorian LPG Company Profile

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.