Koss Olinger Consulting LLC Raises Stake in Ardmore Shipping Co. (NYSE:ASC)

Koss Olinger Consulting LLC boosted its position in Ardmore Shipping Co. (NYSE:ASC) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,728 shares of the shipping company’s stock after buying an additional 9,716 shares during the quarter. Koss Olinger Consulting LLC owned approximately 0.10% of Ardmore Shipping worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ASC. GAMMA Investing LLC boosted its stake in Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock worth $26,000 after buying an additional 1,530 shares in the last quarter. Signaturefd LLC boosted its stake in Ardmore Shipping by 63.3% in the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company’s stock worth $29,000 after buying an additional 919 shares in the last quarter. Private Trust Co. NA purchased a new stake in Ardmore Shipping in the third quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its stake in Ardmore Shipping by 302.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company’s stock worth $31,000 after buying an additional 1,893 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Ardmore Shipping by 228.1% in the fourth quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company’s stock worth $60,000 after buying an additional 3,422 shares in the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ASC. Stifel Nicolaus dropped their price objective on Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price objective on shares of Ardmore Shipping in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ardmore Shipping currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Ardmore Shipping Stock Performance

NYSE:ASC opened at $10.52 on Thursday. The business has a 50 day moving average price of $10.96 and a 200-day moving average price of $13.18. Ardmore Shipping Co. has a fifty-two week low of $8.83 and a fifty-two week high of $23.44. The firm has a market cap of $425.38 million, a PE ratio of 3.44 and a beta of 0.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.86 and a current ratio of 4.24.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Thursday, February 13th. The shipping company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. Equities research analysts predict that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Ardmore Shipping Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, February 28th. Ardmore Shipping’s payout ratio is 10.46%.

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.