Sequoia Financial Advisors LLC Buys 11,514 Shares of Ardmore Shipping Co. (NYSE:ASC)

Sequoia Financial Advisors LLC lifted its stake in shares of Ardmore Shipping Co. (NYSE:ASC) by 66.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,899 shares of the shipping company’s stock after acquiring an additional 11,514 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.07% of Ardmore Shipping worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Ardmore Shipping by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,389 shares of the shipping company’s stock worth $1,799,000 after purchasing an additional 1,302 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Ardmore Shipping by 3.0% in the third quarter. Franklin Resources Inc. now owns 44,482 shares of the shipping company’s stock valued at $769,000 after buying an additional 1,304 shares during the period. GAMMA Investing LLC boosted its position in Ardmore Shipping by 261.1% during the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 1,530 shares during the last quarter. Private Trust Co. NA acquired a new stake in Ardmore Shipping during the 3rd quarter worth about $31,000. Finally, Sanctuary Advisors LLC raised its position in shares of Ardmore Shipping by 10.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 22,204 shares of the shipping company’s stock worth $402,000 after acquiring an additional 2,041 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors.

Ardmore Shipping Stock Performance

Shares of ASC opened at $10.18 on Wednesday. Ardmore Shipping Co. has a one year low of $8.83 and a one year high of $23.44. The company has a market cap of $411.63 million, a PE ratio of 3.33 and a beta of 0.24. The stock has a 50-day moving average of $11.00 and a 200-day moving average of $13.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.24 and a quick ratio of 3.86.

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 analysts’ consensus estimates of $0.33 by ($0.08). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. On average, equities research analysts predict that Ardmore Shipping Co. will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued 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 yield of 3.14%. Ardmore Shipping’s payout ratio is 10.46%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ASC shares. Jefferies Financial Group restated a “buy” rating and set a $17.00 target price on shares of Ardmore Shipping in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.00.

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.