Foundation Resource Management Inc. Invests $389,000 in Dorian LPG Ltd (LPG) Stock

Foundation Resource Management Inc. bought a new stake in Dorian LPG Ltd (NYSE:LPG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,301 shares of the shipping company’s stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP raised its holdings in shares of Dorian LPG by 27.9% during the third quarter. Royce & Associates LP now owns 1,336,331 shares of the shipping company’s stock valued at $9,114,000 after purchasing an additional 291,500 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dorian LPG by 9.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,687,162 shares of the shipping company’s stock valued at $11,508,000 after purchasing an additional 149,524 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Dorian LPG during the third quarter valued at about $120,000. SG Americas Securities LLC acquired a new position in shares of Dorian LPG during the third quarter valued at about $199,000. Finally, Private Management Group Inc. raised its holdings in shares of Dorian LPG by 4.6% during the third quarter. Private Management Group Inc. now owns 420,685 shares of the shipping company’s stock valued at $2,869,000 after purchasing an additional 18,682 shares during the period. Hedge funds and other institutional investors own 47.71% of the company’s stock.

Shares of Dorian LPG Ltd (NYSE LPG) traded down $0.07 during midday trading on Wednesday, hitting $7.71. 220,600 shares of the stock traded hands, compared to its average volume of 223,783. Dorian LPG Ltd has a 52-week low of $6.20 and a 52-week high of $12.50. The firm has a market capitalization of $424.94, a price-to-earnings ratio of -36.71 and a beta of 1.20. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.62.

Dorian LPG (NYSE:LPG) last posted its earnings results on Friday, November 3rd. The shipping company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.02. Dorian LPG had a negative net margin of 7.30% and a negative return on equity of 4.06%. The company had revenue of $34.73 million for the quarter, compared to analyst estimates of $31.13 million. During the same quarter in the prior year, the business posted ($0.25) EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. sell-side analysts forecast that Dorian LPG Ltd will post -0.66 earnings per share for the current fiscal year.

In other Dorian LPG news, Director Christina Tan bought 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average price of $7.00 per share, for a total transaction of $70,000.00. Following the acquisition, the director now directly owns 39,475 shares of the company’s stock, valued at approximately $276,325. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.50% of the company’s stock.

Several equities analysts have recently weighed in on LPG shares. Zacks Investment Research upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Thursday, January 4th. DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine upgraded shares of Dorian LPG from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Dorian LPG presently has an average rating of “Hold” and an average price target of $9.17.

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Dorian LPG Company Profile

Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.

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Institutional Ownership by Quarter for Dorian LPG (NYSE:LPG)

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