Ardmore Shipping Co. (NYSE:ASC) Shares Sold by Foundry Partners LLC

Foundry Partners LLC cut its stake in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 402,534 shares of the shipping company's stock after selling 162,766 shares during the quarter. Foundry Partners LLC owned approximately 0.96% of Ardmore Shipping worth $4,891,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Ardmore Shipping by 261.1% in the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock valued at $26,000 after acquiring an additional 1,530 shares during the period. Signaturefd LLC increased its stake in shares of Ardmore Shipping by 63.3% during the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock worth $29,000 after purchasing an additional 919 shares in the last quarter. Farther Finance Advisors LLC lifted 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 buying an additional 1,893 shares in the last quarter. Larson Financial Group LLC increased its stake 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 buying an additional 3,422 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Ardmore Shipping by 829.0% during the third 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 last quarter. Hedge funds and other institutional investors own 62.22% of the company's stock.

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Ardmore Shipping Trading Down 2.6 %

ASC traded down $0.23 during trading hours on Thursday, reaching $8.74. The company's stock had a trading volume of 181,912 shares, compared to its average volume of 706,330. The business's 50-day moving average is $10.08 and its 200-day moving average is $12.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.24 and a quick ratio of 3.86. The stock has a market cap of $353.62 million, a PE ratio of 2.86 and a beta of 0.16. Ardmore Shipping Co. has a fifty-two week low of $8.32 and a fifty-two week high of $23.44.

Ardmore Shipping (NYSE:ASC - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The shipping company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. As a group, equities research analysts predict that Ardmore Shipping Co. will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 3.66%. Ardmore Shipping's dividend payout ratio is currently 10.46%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus lowered their price target 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 target price on shares of Ardmore Shipping in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Ardmore Shipping currently has an average rating of "Hold" and an average 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.