Royce & Associates LP Raises Stake in Dorian LPG Ltd (LPG)

Royce & Associates LP grew its position in Dorian LPG Ltd (NYSE:LPG) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,335,139 shares of the shipping company’s stock after purchasing an additional 78,510 shares during the period. Royce & Associates LP owned approximately 4.23% of Dorian LPG worth $18,611,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Dorian LPG by 0.4% in the third quarter. BlackRock Inc. now owns 1,755,254 shares of the shipping company’s stock valued at $13,988,000 after purchasing an additional 6,691 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Dorian LPG by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 102,979 shares of the shipping company’s stock valued at $787,000 after acquiring an additional 7,278 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Dorian LPG by 8.1% in the second quarter. California Public Employees Retirement System now owns 98,748 shares of the shipping company’s stock valued at $754,000 after acquiring an additional 7,420 shares during the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Dorian LPG in the second quarter valued at about $132,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Dorian LPG in the third quarter valued at about $157,000. Institutional investors own 56.21% of the company’s stock.

NYSE:LPG opened at $7.13 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.13 and a current ratio of 1.15. The stock has a market capitalization of $387.82 million, a P/E ratio of -11.50 and a beta of 0.83. Dorian LPG Ltd has a 52-week low of $6.85 and a 52-week high of $8.80.

Dorian LPG (NYSE:LPG) last released its earnings results on Wednesday, October 31st. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $40.81 million for the quarter, compared to the consensus estimate of $38.32 million. Dorian LPG had a negative return on equity of 4.58% and a negative net margin of 20.11%. On average, analysts anticipate that Dorian LPG Ltd will post -0.71 earnings per share for the current year.

A number of research firms recently issued reports on LPG. Zacks Investment Research raised Dorian LPG from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Wednesday, October 17th. ValuEngine downgraded Dorian LPG from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st.

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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 very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

Further Reading: Understanding Price to Earnings Ratio (PE)

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

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