Koss Olinger Consulting LLC Invests $719,000 in Ardmore Shipping Co. (NYSE:ASC)

Koss Olinger Consulting LLC purchased a new stake in shares of Ardmore Shipping Co. (NYSE:ASC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,891 shares of the shipping company’s stock, valued at approximately $719,000. Koss Olinger Consulting LLC owned 0.08% of Ardmore Shipping as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ASC. Custom Index Systems LLC acquired a new position in Ardmore Shipping during the 2nd quarter valued at about $419,000. Acadian Asset Management LLC lifted its holdings in Ardmore Shipping by 135.1% in the second quarter. Acadian Asset Management LLC now owns 308,200 shares of the shipping company’s stock valued at $6,936,000 after buying an additional 177,130 shares during the period. Foundry Partners LLC bought a new position in Ardmore Shipping in the second quarter valued at approximately $4,012,000. Larson Financial Group LLC bought a new position in Ardmore Shipping in the second quarter valued at approximately $34,000. Finally, LMG Wealth Partners LLC grew its holdings in Ardmore Shipping by 4.6% during the 2nd quarter. LMG Wealth Partners LLC now owns 73,591 shares of the shipping company’s stock worth $1,658,000 after acquiring an additional 3,254 shares during the period. Institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Stock Performance

Shares of Ardmore Shipping stock opened at $17.22 on Friday. The stock’s fifty day simple moving average is $19.88 and its 200 day simple moving average is $19.11. The company has a current ratio of 3.50, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $699.60 million, a PE ratio of 6.60 and a beta of 0.35. Ardmore Shipping Co. has a 12 month low of $11.78 and a 12 month high of $23.44.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Wednesday, July 31st. The shipping company reported $1.13 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $80.51 million. During the same quarter last year, the firm posted $0.57 earnings per share. Ardmore Shipping’s revenue was up 32.0% compared to the same quarter last year. On average, research analysts predict that Ardmore Shipping Co. will post 3.46 EPS for the current year.

Ardmore Shipping Announces Dividend

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

Analyst Upgrades and Downgrades

ASC has been the topic of several recent research reports. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Jefferies Financial Group raised their target price on Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their price target on Ardmore Shipping from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI increased their price target on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

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.