Wedge Capital Management L L P NC Boosts Stake in Ardmore Shipping Co. (NYSE:ASC)

Wedge Capital Management L L P NC lifted its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 41.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 111,752 shares of the shipping company’s stock after buying an additional 32,850 shares during the period. Wedge Capital Management L L P NC’s holdings in Ardmore Shipping were worth $1,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ASC. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ardmore Shipping during the second quarter worth approximately $29,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Ardmore Shipping by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,389 shares of the shipping company’s stock worth $1,799,000 after acquiring an additional 1,302 shares during the period. Franklin Resources Inc. boosted its position in shares of Ardmore Shipping by 3.0% during the third quarter. Franklin Resources Inc. now owns 44,482 shares of the shipping company’s stock worth $769,000 after buying an additional 1,304 shares during the period. GAMMA Investing LLC raised its position in shares of Ardmore Shipping by 261.1% during the 4th 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. Finally, Private Trust Co. NA bought a new stake in shares of Ardmore Shipping in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group lowered their price objective on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Stifel Nicolaus lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating and lowered their price target for the company from $24.00 to $17.00 in a report on Wednesday, October 23rd. Three 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, Ardmore Shipping has an average rating of “Hold” and a consensus target price of $20.00.

Ardmore Shipping Trading Down 2.3 %

NYSE:ASC opened at $12.25 on Tuesday. The business’s 50-day moving average price is $11.95 and its two-hundred day moving average price is $15.96. Ardmore Shipping Co. has a 1-year low of $10.86 and a 1-year high of $23.44. The firm has a market capitalization of $512.33 million, a price-to-earnings ratio of 3.43 and a beta of 0.28. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03.

Ardmore Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s dividend payout ratio (DPR) is presently 20.17%.

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.