Dorian LPG Ltd. (LPG) To Go Ex-Dividend on November 9th

Dorian LPG Ltd. (NYSE:LPG) announced a special dividend on Thursday, October 29th. Investors of record on Monday, November 9th will be paid a dividend of $1.25 per share by the shipping company on Tuesday, November 24th. The ex-dividend date of this dividend is Monday, November 9th.

Dorian LPG has a dividend payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings.

Dorian LPG Stock Up 1.3%

NYSE LPG opened at $46.66 on Friday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 4.16 and a beta of 0.64. The stock’s 50 day moving average is $54.17 and its two-hundred day moving average is $42.44. The company has a current ratio of 3.26, a quick ratio of 3.24 and a debt-to-equity ratio of 0.28. Dorian LPG has a 1-year low of $23.76 and a 1-year high of $59.97.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Thursday, November 5th. The shipping company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.61. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. The company had revenue of $221.35 million for the quarter, compared to analysts’ expectations of $195.18 million. During the same period last year, the firm posted $1.31 EPS. Dorian LPG’s revenue for the quarter was up 78.4% compared to the same quarter last year.

Insider Transactions at Dorian LPG

In related news, insider Tim Hansen sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the transaction, the insider directly owned 107,675 shares in the company, valued at $5,719,696. The trade was a 31.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Alexander Hadjipateras sold 5,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.13, for a total transaction of $270,650.00. Following the transaction, the chief operating officer directly owned 95,836 shares of the company’s stock, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 106,000 shares of company stock worth $5,455,849 in the last three months. Insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

A number of institutional investors and hedge funds have recently made changes to their positions in LPG. Public Employees Retirement System of Ohio bought a new position in shares of Dorian LPG during the 2nd quarter valued at approximately $37,000. KBC Group NV purchased a new stake in shares of Dorian LPG in the first quarter valued at $38,000. Allworth Financial LP boosted its position in Dorian LPG by 65.9% in the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company’s stock valued at $42,000 after buying an additional 479 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Dorian LPG by 80.3% in the third quarter. Sterling Capital Management LLC now owns 941 shares of the shipping company’s stock valued at $52,000 after acquiring an additional 419 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Dorian LPG during the 2nd quarter worth $57,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About Dorian LPG

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.