SummerHaven Investment Management LLC Purchases 18,331 Shares of Dorian LPG Ltd. $LPG

SummerHaven Investment Management LLC acquired a new stake in shares of Dorian LPG Ltd. (NYSE:LPG) during the third quarter, HoldingsChannel reports. The fund acquired 18,331 shares of the shipping company’s stock, valued at approximately $1,009,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Dorian LPG in the 2nd quarter worth about $37,000. KBC Group NV bought a new stake in shares of Dorian LPG during the 1st quarter valued at about $38,000. Allworth Financial LP increased its position in shares of Dorian LPG by 65.9% during the second 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 period. Integrated Wealth Concepts LLC purchased a new position in shares of Dorian LPG during the second quarter valued at about $57,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Dorian LPG by 14.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock valued at $89,000 after buying an additional 318 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Insider Transactions at Dorian LPG

In related news, insider Tim Hansen sold 50,000 shares of Dorian LPG stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the completion of the transaction, the insider directly owned 107,675 shares of the company’s stock, valued at $5,719,696. This trade represents a 31.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Theodore Young sold 11,919 shares of Dorian LPG stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.50, for a total transaction of $649,585.50. Following the transaction, the chief financial officer directly owned 107,794 shares of the company’s stock, valued at approximately $5,874,773. This trade represents a 9.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,000 shares of company stock valued at $5,455,849 in the last three months. 13.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LPG shares. Wall Street Zen downgraded shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Dorian LPG currently has an average rating of “Buy” and a consensus price target of $55.00.

Dorian LPG Price Performance

Shares of LPG stock opened at $53.60 on Friday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 7.10 and a beta of 0.57. The business’s fifty day moving average is $53.11 and its 200 day moving average is $44.67. Dorian LPG Ltd. has a twelve month low of $23.76 and a twelve month high of $59.97. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.12 by $0.40. The business had revenue of $187.88 million during the quarter, compared to analyst estimates of $160.78 million. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. The company’s revenue for the quarter was up 123.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share.

About Dorian LPG

Dorian LPG Ltd. is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other liquefied gases for energy producers, commodity traders and industrial customers under voyage, time-charter and pool arrangements.

Dorian LPG focuses on very large gas carriers (VLGCs), which are designed to transport LPG in large quantities over international routes. Its vessels serve global energy markets, including major LPG export regions such as the United States and the Middle East and import markets in Asia, Europe and other regions.

Founded in 2013, Dorian LPG is headquartered in Stamford, Connecticut, and its shares trade on the New York Stock Exchange under the symbol LPG.