Dorian LPG Ltd. (NYSE:LPG) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its holdings in Dorian LPG Ltd. (NYSE:LPG) by 21.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 76,726 shares of the shipping company’s stock after selling 20,920 shares during the period. Navellier & Associates Inc.’s holdings in Dorian LPG were worth $2,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LPG. Louisiana State Employees Retirement System raised its stake in Dorian LPG by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the shipping company’s stock worth $722,000 after purchasing an additional 300 shares during the period. Gallacher Capital Management LLC increased its holdings in shares of Dorian LPG by 4.9% during the 2nd quarter. Gallacher Capital Management LLC now owns 7,355 shares of the shipping company’s stock worth $309,000 after buying an additional 343 shares during the last quarter. Quarry LP raised its position in shares of Dorian LPG by 57.8% in the 2nd quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after buying an additional 345 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Dorian LPG by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 17,511 shares of the shipping company’s stock valued at $735,000 after acquiring an additional 389 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in Dorian LPG by 1.9% in the third quarter. New York State Teachers Retirement System now owns 21,640 shares of the shipping company’s stock valued at $745,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

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

Dorian LPG Price Performance

LPG opened at $25.94 on Thursday. Dorian LPG Ltd. has a 52-week low of $25.04 and a 52-week high of $51.66. The company has a 50 day moving average of $31.85 and a two-hundred day moving average of $37.98. The company has a market cap of $1.11 billion, a P/E ratio of 4.35 and a beta of 1.00. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The business had revenue of $82.40 million for the quarter, compared to analysts’ expectations of $82.40 million. During the same period last year, the company posted $1.85 earnings per share. The firm’s revenue for the quarter was down 43.1% on a year-over-year basis. On average, analysts expect that Dorian LPG Ltd. will post 3.45 earnings per share for the current year.

Dorian LPG Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, November 25th. Investors of record on Tuesday, November 5th will be given a dividend of $1.00 per share. The ex-dividend date is Tuesday, November 5th.

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.