Larson Financial Group LLC Boosts Stake in Ardmore Shipping Co. (NYSE:ASC)

Larson Financial Group LLC grew its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 228.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,922 shares of the shipping company’s stock after acquiring an additional 3,422 shares during the quarter. Larson Financial Group LLC’s holdings in Ardmore Shipping were worth $60,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Ardmore Shipping by 261.1% during the 4th 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. Private Trust Co. NA purchased a new stake in Ardmore Shipping during the third quarter worth approximately $31,000. Quarry LP increased its position in shares of Ardmore Shipping by 829.0% in the third quarter. Quarry LP now owns 3,558 shares of the shipping company’s stock worth $64,000 after acquiring an additional 3,175 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in shares of Ardmore Shipping in the fourth quarter worth $125,000. Finally, Ieq Capital LLC purchased a new position in shares of Ardmore Shipping in the 4th quarter valued at $161,000. 62.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASC. Stifel Nicolaus lowered their price target on Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued 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. According to MarketBeat.com, Ardmore Shipping presently has an average rating of “Hold” and a consensus price target of $18.00.

Ardmore Shipping Price Performance

ASC opened at $9.72 on Thursday. Ardmore Shipping Co. has a twelve month low of $8.83 and a twelve month high of $23.44. 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 firm has a market cap of $406.50 million, a price-to-earnings ratio of 3.17 and a beta of 0.23. The company has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $13.49.

Ardmore Shipping (NYSE:ASC) last announced its earnings results 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 research analysts expect that Ardmore Shipping Co. will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued 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 3.29%. Ardmore Shipping’s dividend payout ratio is presently 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.