Evermay Wealth Management LLC Purchases Shares of 1,300 Dorian LPG Ltd. $LPG

Evermay Wealth Management LLC purchased a new stake in Dorian LPG Ltd. (NYSE:LPG) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,300 shares of the shipping company’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently bought and sold shares of LPG. Kingstone Capital Partners Texas LLC bought a new position in Dorian LPG in the second quarter valued at approximately $165,210,000. Millennium Management LLC raised its holdings in shares of Dorian LPG by 3,728.9% in the first quarter. Millennium Management LLC now owns 997,470 shares of the shipping company’s stock valued at $22,283,000 after purchasing an additional 971,419 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Dorian LPG in the second quarter valued at approximately $6,438,000. Sparta 24 Ltd. acquired a new stake in shares of Dorian LPG in the first quarter valued at approximately $5,036,000. Finally, American Century Companies Inc. raised its holdings in shares of Dorian LPG by 8.0% in the first quarter. American Century Companies Inc. now owns 1,460,840 shares of the shipping company’s stock valued at $32,635,000 after purchasing an additional 108,769 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LPG. Jefferies Financial Group lifted their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Dorian LPG presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Dorian LPG Trading Up 0.5%

Shares of Dorian LPG stock opened at $27.04 on Tuesday. The firm has a 50-day moving average of $30.22 and a 200-day moving average of $26.28. The stock has a market cap of $1.15 billion, a PE ratio of 23.51 and a beta of 0.77. Dorian LPG Ltd. has a 52-week low of $16.66 and a 52-week high of $33.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32.

Dorian LPG (NYSE:LPG) last announced its earnings results on Friday, August 1st. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.34). The business had revenue of $84.21 million during the quarter, compared to the consensus estimate of $86.53 million. Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The company’s revenue was down 26.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. As a group, sell-side analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend was Tuesday, August 12th.

Insiders Place Their Bets

In related news, COO Alexander C. Hadjipateras sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $32.38, for a total transaction of $161,900.00. Following the completion of the sale, the chief operating officer owned 89,440 shares of the company’s stock, valued at $2,896,067.20. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.60% of the stock is owned by corporate insiders.

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.