Paloma Partners Management Co Invests $662,000 in Dorian LPG Ltd. (NYSE:LPG)

Paloma Partners Management Co purchased a new position in Dorian LPG Ltd. (NYSE:LPG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,218 shares of the shipping company’s stock, valued at approximately $662,000.

A number of other large investors have also recently made changes to their positions in the stock. Saxony Capital Management LLC boosted its stake in Dorian LPG by 5.9% during the first quarter. Saxony Capital Management LLC now owns 5,572 shares of the shipping company’s stock valued at $214,000 after buying an additional 309 shares during the period. Texas Permanent School Fund Corp boosted its stake in Dorian LPG by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,842 shares of the shipping company’s stock valued at $1,148,000 after buying an additional 375 shares during the period. PNC Financial Services Group Inc. boosted its stake in Dorian LPG by 26.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock valued at $80,000 after buying an additional 379 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Dorian LPG by 4.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,301 shares of the shipping company’s stock valued at $408,000 after buying an additional 391 shares during the period. Finally, PSI Advisors LLC boosted its stake in Dorian LPG by 16.8% during the first quarter. PSI Advisors LLC now owns 3,125 shares of the shipping company’s stock valued at $120,000 after buying an additional 450 shares during the period. 62.50% of the stock is owned by institutional investors.

Dorian LPG Price Performance

NYSE LPG traded down $1.14 during trading hours on Monday, reaching $40.29. 542,073 shares of the stock traded hands, compared to its average volume of 835,646. The stock has a 50 day simple moving average of $43.31 and a two-hundred day simple moving average of $40.60. Dorian LPG Ltd. has a 1 year low of $24.17 and a 1 year high of $51.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.62 and a quick ratio of 3.60. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 5.30 and a beta of 0.97.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. The firm had revenue of $141.40 million for the quarter, compared to the consensus estimate of $144.25 million. Dorian LPG had a return on equity of 32.22% and a net margin of 54.83%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. On average, analysts predict that Dorian LPG Ltd. will post 4.72 EPS for the current fiscal year.

Dorian LPG Dividend Announcement

The business also recently disclosed a None dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th will be issued a $1.00 dividend. The ex-dividend date is Thursday, August 8th. Dorian LPG’s dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

LPG has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Dorian LPG from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. DNB Markets upgraded Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com downgraded Dorian LPG from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

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.