Pekin Hardy Strauss Inc. Buys 6,450 Shares of Dorian LPG Ltd. (NYSE:LPG)

Pekin Hardy Strauss Inc. raised its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 38.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,220 shares of the shipping company’s stock after acquiring an additional 6,450 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Dorian LPG were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LPG. Beacon Capital Management LLC purchased a new stake in shares of Dorian LPG in the first quarter valued at about $27,000. GAMMA Investing LLC grew its position in Dorian LPG by 60.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock worth $44,000 after purchasing an additional 395 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Dorian LPG by 26.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock valued at $80,000 after buying an additional 379 shares during the last quarter. Tucker Asset Management LLC bought a new position in shares of Dorian LPG during the 4th quarter worth approximately $136,000. Finally, SG Americas Securities LLC purchased a new position in shares of Dorian LPG in the 1st quarter worth approximately $145,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Alexander C. Hadjipateras sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $36.12, for a total value of $90,300.00. Following the completion of the transaction, the chief operating officer now directly owns 82,823 shares of the company’s stock, valued at approximately $2,991,566.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Jefferies Financial Group increased their price target on Dorian LPG from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. DNB Markets upgraded Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, July 3rd.

Dorian LPG Trading Up 1.5 %

NYSE:LPG opened at $35.64 on Wednesday. The firm’s 50 day moving average is $37.95 and its 200 day moving average is $40.45. Dorian LPG Ltd. has a 12 month low of $25.58 and a 12 month high of $51.66. The stock has a market capitalization of $1.45 billion, a PE ratio of 4.69 and a beta of 0.99. The company has a current ratio of 4.60, a quick ratio of 4.58 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.23. Dorian LPG had a return on equity of 30.64% and a net margin of 54.48%. The firm had revenue of $114.30 million for the quarter, compared to analysts’ expectations of $113.70 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Dorian LPG Ltd. will post 4.94 earnings per share for the current year.

Dorian LPG Announces Dividend

The firm also recently announced a None dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 8th. Dorian LPG’s dividend payout ratio is presently 13.16%.

Dorian LPG Profile

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 twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.