Globeflex Capital L P Cuts Stock Holdings in Ardmore Shipping Co. (NYSE:ASC)

Globeflex Capital L P trimmed its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,130 shares of the shipping company’s stock after selling 24,911 shares during the quarter. Globeflex Capital L P owned approximately 0.21% of Ardmore Shipping worth $1,059,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ASC. GAMMA Investing LLC increased its holdings in shares of Ardmore Shipping by 261.1% during the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 1,530 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of Ardmore Shipping during the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its stake in Ardmore Shipping by 302.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 1,893 shares during the period. Larson Financial Group LLC grew its stake in Ardmore Shipping by 228.1% in the 4th quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company’s stock valued at $60,000 after acquiring an additional 3,422 shares during the period. Finally, Quarry LP grew its stake in Ardmore Shipping by 829.0% in the 3rd quarter. Quarry LP now owns 3,558 shares of the shipping company’s stock valued at $64,000 after acquiring an additional 3,175 shares during the period. 62.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ASC. Stifel Nicolaus dropped their price target on shares of Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Ardmore Shipping in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Ardmore Shipping Stock Up 0.2 %

Shares of ASC opened at $9.87 on Friday. The firm has a market cap of $399.09 million, a P/E ratio of 3.22 and a beta of 0.23. Ardmore Shipping Co. has a 12-month low of $8.83 and a 12-month high of $23.44. The company’s 50-day moving average price is $11.09 and its 200 day moving average price is $13.41. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.08). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. On average, sell-side analysts forecast that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Ardmore Shipping Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.08 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 3.24%. Ardmore Shipping’s dividend payout ratio (DPR) is currently 10.46%.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.