WealthTrust Axiom LLC Sells 7,300 Shares of Ardmore Shipping Co. (NYSE:ASC)

WealthTrust Axiom LLC cut its holdings in shares of Ardmore Shipping Co. (NYSE:ASC) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,451 shares of the shipping company’s stock after selling 7,300 shares during the period. WealthTrust Axiom LLC owned about 0.11% of Ardmore Shipping worth $552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock worth $26,000 after purchasing an additional 1,530 shares in the last quarter. Signaturefd LLC lifted its position in Ardmore Shipping by 63.3% during the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company’s stock worth $29,000 after buying an additional 919 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Ardmore Shipping by 302.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company’s stock worth $31,000 after buying an additional 1,893 shares in the last quarter. Larson Financial Group LLC grew its holdings in Ardmore Shipping by 228.1% during the 4th quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company’s stock worth $60,000 after acquiring an additional 3,422 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Ardmore Shipping by 18.5% in the 4th quarter. Legal & General Group Plc now owns 8,010 shares of the shipping company’s stock valued at $97,000 after acquiring an additional 1,252 shares in the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping Stock Performance

Ardmore Shipping stock opened at $9.32 on Friday. Ardmore Shipping Co. has a 1 year low of $8.32 and a 1 year high of $23.44. The company’s 50-day moving average is $9.97 and its two-hundred day moving average is $12.15. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $377.16 million, a PE ratio of 3.05 and a beta of 0.16.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 earnings per share 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%. Equities analysts anticipate 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 paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.43%. Ardmore Shipping’s dividend payout ratio (DPR) is presently 10.46%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price target on shares of Ardmore Shipping in a research note on Thursday, February 13th. Stifel Nicolaus reduced their price objective on Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

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.