Procyon Advisors LLC Lowers Stock Position in Dorian LPG Ltd. (NYSE:LPG)

Procyon Advisors LLC decreased its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 46.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,279 shares of the shipping company’s stock after selling 14,730 shares during the quarter. Procyon Advisors LLC’s holdings in Dorian LPG were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Dorian LPG by 63.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 417,493 shares of the shipping company’s stock valued at $11,995,000 after acquiring an additional 162,663 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Dorian LPG by 10.5% during the 3rd quarter. Invesco Ltd. now owns 798,371 shares of the shipping company’s stock valued at $22,937,000 after acquiring an additional 75,584 shares in the last quarter. Ibex Wealth Advisors acquired a new position in shares of Dorian LPG during the 3rd quarter valued at $510,000. First Eagle Investment Management LLC lifted its holdings in Dorian LPG by 37.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 218,491 shares of the shipping company’s stock worth $6,277,000 after buying an additional 59,850 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in Dorian LPG in the 3rd quarter worth $1,060,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Dorian LPG Stock Performance

NYSE LPG traded up $0.24 on Thursday, hitting $37.69. The stock had a trading volume of 50,688 shares, compared to its average volume of 989,976. The company’s 50-day moving average is $37.19 and its two-hundred day moving average is $36.99. The company has a quick ratio of 3.29, a current ratio of 3.31 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 4.97 and a beta of 1.13. Dorian LPG Ltd. has a one year low of $19.20 and a one year high of $49.54.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Thursday, February 1st. The shipping company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.35. The business had revenue of $163.06 million during the quarter, compared to analysts’ expectations of $154.49 million. Dorian LPG had a net margin of 55.02% and a return on equity of 33.59%. During the same period last year, the firm posted $1.29 earnings per share. On average, analysts expect that Dorian LPG Ltd. will post 7.29 earnings per share for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced a None dividend, which was paid on Tuesday, February 27th. Investors of record on Monday, February 5th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, February 2nd. Dorian LPG’s dividend payout ratio is presently 26.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LPG shares. Jefferies Financial Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Dorian LPG in a report on Thursday, February 1st. DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a report on Friday, January 26th. Finally, StockNews.com lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.25.

Insider Activity at Dorian LPG

In other Dorian LPG news, CEO John C. Hadjipateras bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was acquired at an average cost of $42.58 per share, with a total value of $212,900.00. Following the completion of the purchase, the chief executive officer now directly owns 1,777,740 shares in the company, valued at $75,696,169.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 15.90% of the company’s stock.

About Dorian LPG

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.