Farther Finance Advisors LLC Has $31,000 Stock Holdings in Ardmore Shipping Co. (NYSE:ASC)

Farther Finance Advisors LLC increased its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 302.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,519 shares of the shipping company’s stock after purchasing an additional 1,893 shares during the period. Farther Finance Advisors LLC’s holdings in Ardmore Shipping were worth $31,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ASC. Victory Capital Management Inc. boosted its holdings in Ardmore Shipping by 255.4% during the fourth quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company’s stock valued at $5,659,000 after purchasing an additional 334,704 shares in the last quarter. Private Management Group Inc. lifted its position in shares of Ardmore Shipping by 16.3% during the 4th quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company’s stock worth $14,639,000 after buying an additional 168,731 shares during the period. Bleakley Financial Group LLC boosted its stake in Ardmore Shipping by 406.6% in the 4th quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company’s stock valued at $1,189,000 after buying an additional 78,524 shares in the last quarter. Walleye Capital LLC bought a new stake in Ardmore Shipping in the third quarter valued at $1,164,000. Finally, Barclays PLC raised its stake in Ardmore Shipping by 301.1% during the third quarter. Barclays PLC now owns 58,431 shares of the shipping company’s stock worth $1,058,000 after acquiring an additional 43,862 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Price Performance

Ardmore Shipping stock opened at $10.16 on Tuesday. Ardmore Shipping Co. has a 52 week low of $8.83 and a 52 week high of $23.44. The firm has a market cap of $410.82 million, a P/E ratio of 3.32 and a beta of 0.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.86 and a current ratio of 4.24. The business’s fifty day moving average is $10.78 and its two-hundred day moving average is $12.99.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings results on Thursday, February 13th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Ardmore Shipping Co. will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, February 28th. Ardmore Shipping’s dividend payout ratio is currently 10.46%.

Analyst Upgrades and Downgrades

ASC has been the topic of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price on shares of Ardmore Shipping in a research note on Thursday, February 13th. Stifel Nicolaus reduced their price target on shares of Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

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.