Gallacher Capital Management LLC Cuts Stock Holdings in Ardmore Shipping Co. (NYSE:ASC)

Gallacher Capital Management LLC decreased its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,227 shares of the shipping company’s stock after selling 4,609 shares during the quarter. Gallacher Capital Management LLC’s holdings in Ardmore Shipping were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Ardmore Shipping by 58.9% in the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company’s stock worth $2,372,000 after purchasing an additional 48,598 shares during the last quarter. Walleye Capital LLC purchased a new stake in Ardmore Shipping in the third quarter worth approximately $1,164,000. Foundry Partners LLC boosted its holdings in Ardmore Shipping by 217.5% in the third quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock worth $10,232,000 after purchasing an additional 387,240 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Ardmore Shipping by 40.2% in the third quarter. Janus Henderson Group PLC now owns 24,467 shares of the shipping company’s stock worth $443,000 after purchasing an additional 7,010 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Ardmore Shipping by 301.1% in the third quarter. Barclays PLC now owns 58,431 shares of the shipping company’s stock worth $1,058,000 after purchasing an additional 43,862 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Analyst Upgrades and Downgrades

ASC has been the topic of several research reports. Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price on shares of Ardmore Shipping in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Ardmore Shipping Stock Up 0.2 %

ASC opened at $9.87 on Friday. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a 1-year low of $8.83 and a 1-year high of $23.44. The company has a market capitalization of $399.09 million, a PE ratio of 3.22 and a beta of 0.23. The firm’s 50 day simple moving average is $11.09 and its two-hundred day simple moving average is $13.37.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 EPS 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%. As a group, equities analysts forecast that Ardmore Shipping Co. will post 1.06 EPS for the current year.

Ardmore Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 3.24%. Ardmore Shipping’s payout ratio is 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.