Bfsg LLC Sells 5,110 Shares of Ardmore Shipping Co. (NYSE:ASC)

Bfsg LLC cut its holdings in Ardmore Shipping Co. (NYSE:ASC) by 43.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,656 shares of the shipping company’s stock after selling 5,110 shares during the period. Bfsg LLC’s holdings in Ardmore Shipping were worth $150,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Ardmore Shipping by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 131,120 shares of the shipping company’s stock worth $2,954,000 after purchasing an additional 14,147 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Ardmore Shipping by 9.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 47,884 shares of the shipping company’s stock worth $1,079,000 after buying an additional 4,222 shares during the period. SG Americas Securities LLC grew its stake in Ardmore Shipping by 82.7% in the 2nd quarter. SG Americas Securities LLC now owns 241,455 shares of the shipping company’s stock valued at $5,440,000 after buying an additional 109,312 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Ardmore Shipping by 322.0% in the 2nd quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company’s stock worth $28,000 after acquiring an additional 953 shares during the period. Finally, Simplicity Wealth LLC lifted its position in Ardmore Shipping by 5.8% during the 2nd quarter. Simplicity Wealth LLC now owns 22,248 shares of the shipping company’s stock worth $501,000 after acquiring an additional 1,212 shares during the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI lifted their price objective on Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lifted their price target on Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, 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 research note on Wednesday, July 24th.

Ardmore Shipping Stock Performance

ASC stock traded up $0.03 during trading on Thursday, reaching $18.94. 391,534 shares of the stock were exchanged, compared to its average volume of 664,721. Ardmore Shipping Co. has a twelve month low of $11.78 and a twelve month high of $23.44. The company has a current ratio of 3.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $769.48 million, a P/E ratio of 7.26 and a beta of 0.39. The stock has a 50 day simple moving average of $20.43 and a 200-day simple moving average of $19.03.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, July 31st. The shipping company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $121.30 million during the quarter, compared to the consensus estimate of $80.51 million. Ardmore Shipping had a return on equity of 24.26% and a net margin of 36.31%. The company’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. As a group, sell-side analysts anticipate that Ardmore Shipping Co. will post 3.49 earnings per share for the current year.

Ardmore Shipping Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.03%. The ex-dividend date of this dividend is Friday, August 30th. Ardmore Shipping’s dividend payout ratio (DPR) is presently 58.24%.

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.