Koss Olinger Consulting LLC Takes Position in Ardmore Shipping Co. (NYSE:ASC)

Koss Olinger Consulting LLC acquired a new position in shares of Ardmore Shipping Co. (NYSE:ASC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,891 shares of the shipping company’s stock, valued at approximately $719,000.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. acquired a new position in Ardmore Shipping during the 4th quarter worth approximately $143,000. Invst LLC acquired a new position in Ardmore Shipping during the fourth quarter worth $159,000. Dimensional Fund Advisors LP boosted its holdings in Ardmore Shipping by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,758,657 shares of the shipping company’s stock worth $38,870,000 after purchasing an additional 56,984 shares during the last quarter. Advisor OS LLC bought a new position in Ardmore Shipping in the fourth quarter valued at $141,000. Finally, Quadrant Capital Group LLC increased its stake in Ardmore Shipping by 87.3% in the 4th quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock valued at $62,000 after buying an additional 2,042 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI increased their price objective on shares of Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus increased their price target on Ardmore Shipping from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Jefferies Financial Group increased their price objective on Ardmore Shipping from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Ardmore Shipping Stock Down 1.1 %

Shares of ASC stock opened at $17.22 on Friday. Ardmore Shipping Co. has a 52-week low of $11.78 and a 52-week high of $23.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 3.50. The stock has a market cap of $699.60 million, a price-to-earnings ratio of 6.60 and a beta of 0.35. The firm’s 50-day moving average is $19.88 and its 200-day moving average is $19.11.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Wednesday, July 31st. The shipping company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Ardmore Shipping had a return on equity of 24.26% and a net margin of 36.31%. The company had revenue of $121.30 million during the quarter, compared to analysts’ expectations of $80.51 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was up 32.0% on a year-over-year basis. Sell-side analysts predict that Ardmore Shipping Co. will post 3.46 EPS for the current year.

Ardmore Shipping Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 8.83%. Ardmore Shipping’s dividend payout ratio (DPR) is 58.24%.

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.