Glenorchy Capital Ltd Sells 32,787 Shares of Ardmore Shipping Co. (NYSE:ASC)

Glenorchy Capital Ltd trimmed its holdings in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 21.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 119,112 shares of the shipping company's stock after selling 32,787 shares during the period. Glenorchy Capital Ltd owned approximately 0.29% of Ardmore Shipping worth $2,156,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ASC. Fortitude Family Office LLC raised its position in shares of Ardmore Shipping by 322.0% during the second quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company's stock worth $28,000 after purchasing an additional 953 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ardmore Shipping in the second quarter valued at $29,000. Larson Financial Group LLC acquired a new position in shares of Ardmore Shipping during the second quarter valued at about $34,000. nVerses Capital LLC bought a new stake in shares of Ardmore Shipping during the second quarter worth about $47,000. Finally, CWM LLC raised its holdings in shares of Ardmore Shipping by 72.7% in the 2nd quarter. CWM LLC now owns 2,110 shares of the shipping company's stock worth $48,000 after acquiring an additional 888 shares during the last quarter. Institutional investors and hedge funds own 62.22% of the company's stock.

Ardmore Shipping Trading Up 0.4 %

ASC stock traded up $0.06 during trading on Friday, reaching $16.76. The company had a trading volume of 304,153 shares, compared to its average volume of 623,186. The company has a market cap of $680.91 million, a P/E ratio of 6.42 and a beta of 0.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.50 and a quick ratio of 3.18. The business has a 50 day moving average of $18.08 and a 200 day moving average of $19.42. Ardmore Shipping Co. has a 52 week low of $12.69 and a 52 week high of $23.44.

Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its earnings results on Wednesday, July 31st. The shipping company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $121.30 million for the quarter, compared to analysts' expectations of $80.51 million. Ardmore Shipping had a net margin of 36.31% and a return on equity of 24.26%. The business's revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. As a group, sell-side analysts forecast that Ardmore Shipping Co. will post 3.46 earnings per share for the current fiscal year.

Ardmore Shipping Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.07%. The ex-dividend date was Friday, August 30th. Ardmore Shipping's dividend payout ratio (DPR) is presently 58.24%.

Analyst Ratings Changes

Several research firms recently weighed in on ASC. Jefferies Financial Group boosted their price target on shares of Ardmore Shipping from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Fearnley Fonds raised shares of Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. StockNews.com downgraded shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a research note on Wednesday, September 25th. Stifel Nicolaus raised their price objective on shares of Ardmore Shipping from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Finally, Evercore ISI lifted their price objective on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ardmore Shipping currently has an average rating of "Moderate Buy" and an average target price of $24.67.

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.