Gallacher Capital Management LLC Has $379,000 Position in Ardmore Shipping Co. (NYSE:ASC)

Gallacher Capital Management LLC cut its stake in Ardmore Shipping Co. (NYSE:ASC) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,227 shares of the shipping company’s stock after selling 4,609 shares during the quarter. Gallacher Capital Management LLC owned approximately 0.07% of Ardmore Shipping worth $379,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Foundry Partners LLC increased its position in Ardmore Shipping by 217.5% during the third quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock worth $10,232,000 after acquiring an additional 387,240 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ardmore Shipping by 255.4% in the 4th 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. boosted its position in 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. Royce & Associates LP boosted its position in Ardmore Shipping by 24.2% during the 4th quarter. Royce & Associates LP now owns 830,420 shares of the shipping company’s stock worth $10,090,000 after buying an additional 161,670 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in Ardmore Shipping by 406.6% during the 4th quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company’s stock worth $1,189,000 after buying an additional 78,524 shares during the period. 62.22% of the stock is owned by institutional investors.

Ardmore Shipping Stock Up 0.2 %

ASC opened at $9.87 on Friday. Ardmore Shipping Co. has a one year low of $8.83 and a one year high of $23.44. The company has a fifty day moving average price of $11.09 and a 200-day moving average price of $13.37. The firm has a market capitalization of $399.09 million, a P/E ratio of 3.22 and a beta of 0.23. 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 posted 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 net margin of 32.78% and a return on equity of 20.48%. Equities research analysts expect that Ardmore Shipping Co. will post 1.06 earnings per share 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Friday, February 28th. Ardmore Shipping’s dividend payout ratio (DPR) is presently 10.46%.

Analysts Set New Price Targets

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