Ardmore Shipping Corporation $ASC Shares Sold by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC decreased its position in shares of Ardmore Shipping Corporation (NYSE:ASC) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,033 shares of the shipping company’s stock after selling 3,141 shares during the quarter. Koss Olinger Consulting LLC owned 0.12% of Ardmore Shipping worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ASC. Kingstone Capital Partners Texas LLC purchased a new position in shares of Ardmore Shipping during the 2nd quarter valued at approximately $21,019,000. Pacer Advisors Inc. purchased a new position in shares of Ardmore Shipping during the 1st quarter valued at approximately $4,683,000. Trexquant Investment LP lifted its position in shares of Ardmore Shipping by 100.3% during the 1st quarter. Trexquant Investment LP now owns 186,301 shares of the shipping company’s stock valued at $1,824,000 after buying an additional 93,311 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Ardmore Shipping by 5.5% during the 1st quarter. American Century Companies Inc. now owns 1,572,868 shares of the shipping company’s stock valued at $15,398,000 after buying an additional 81,361 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Ardmore Shipping by 5.2% during the 1st quarter. Wellington Management Group LLP now owns 1,487,111 shares of the shipping company’s stock valued at $14,559,000 after buying an additional 73,557 shares in the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ASC shares. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price on shares of Ardmore Shipping in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ardmore Shipping in a research report on Wednesday, October 8th. Evercore ISI set a $13.00 target price on Ardmore Shipping in a research report on Wednesday, July 30th. Finally, Zacks Research lowered Ardmore Shipping from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Ardmore Shipping Trading Up 1.0%

Shares of ASC stock opened at $12.34 on Tuesday. Ardmore Shipping Corporation has a fifty-two week low of $8.32 and a fifty-two week high of $14.60. The firm has a market capitalization of $501.10 million, a P/E ratio of 11.98 and a beta of 0.09. The stock’s fifty day moving average is $11.92 and its two-hundred day moving average is $10.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.56 and a current ratio of 3.88.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Wednesday, July 30th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. Ardmore Shipping had a return on equity of 8.46% and a net margin of 14.48%.The business had revenue of $72.05 million during the quarter, compared to the consensus estimate of $44.92 million. During the same period last year, the company earned $1.14 EPS. The company’s revenue for the quarter was down 40.6% on a year-over-year basis. Research analysts expect that Ardmore Shipping Corporation will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a $0.07 dividend. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.3%. Ardmore Shipping’s dividend payout ratio is 27.18%.

About Ardmore Shipping

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.