Rhumbline Advisers Sells 36,444 Shares of Ardmore Shipping Co. (NYSE:ASC)

Rhumbline Advisers decreased its position in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 33.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,067 shares of the shipping company's stock after selling 36,444 shares during the period. Rhumbline Advisers owned approximately 0.17% of Ardmore Shipping worth $876,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Foundry Partners LLC grew its stake in shares of Ardmore Shipping by 217.5% during the third quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company's stock valued at $10,232,000 after buying an additional 387,240 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Ardmore Shipping by 16.3% during the fourth quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company's stock valued at $14,639,000 after buying an additional 168,731 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Ardmore Shipping by 406.6% during the fourth quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company's stock valued at $1,189,000 after buying an additional 78,524 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Ardmore Shipping during the third quarter valued at about $1,164,000. Finally, Victory Capital Management Inc. grew its stake in shares of Ardmore Shipping by 58.9% during the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company's stock valued at $2,372,000 after buying an additional 48,598 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company's stock.

Remove Ads

Ardmore Shipping Trading Up 0.9 %

Shares of NYSE ASC traded up $0.09 during trading hours on Friday, hitting $9.90. The company's stock had a trading volume of 641,644 shares, compared to its average volume of 782,587. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.86 and a current ratio of 4.24. The stock has a market cap of $414.03 million, a price-to-earnings ratio of 3.23 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 business has a 50-day simple moving average of $11.34 and a 200-day simple moving average of $13.65.

Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its earnings results 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 return on equity of 20.48% and a net margin of 32.78%. On average, analysts anticipate that Ardmore Shipping Co. will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 3.23%. Ardmore Shipping's payout ratio is 10.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ASC shares. 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 research note on Friday, February 14th. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Ardmore Shipping in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $18.00.

Ardmore Shipping 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.