Y Intercept Hong Kong Ltd Has $656,000 Holdings in Ardmore Shipping Co. (NYSE:ASC)

Y Intercept Hong Kong Ltd lifted its holdings in shares of Ardmore Shipping Co. (NYSE:ASC) by 44.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,013 shares of the shipping company’s stock after purchasing an additional 16,523 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ardmore Shipping were worth $656,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Private Management Group Inc. lifted its holdings in shares of Ardmore Shipping by 16.3% during the fourth quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company’s stock worth $14,639,000 after purchasing an additional 168,731 shares during the period. State Street Corp lifted its holdings in shares of Ardmore Shipping by 0.4% during the third quarter. State Street Corp now owns 782,368 shares of the shipping company’s stock worth $14,161,000 after purchasing an additional 2,922 shares during the period. Foundry Partners LLC lifted its holdings in shares of 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 purchasing an additional 387,240 shares during the period. Empowered Funds LLC lifted its holdings in shares of Ardmore Shipping by 5.1% during the fourth quarter. Empowered Funds LLC now owns 218,529 shares of the shipping company’s stock worth $2,655,000 after purchasing an additional 10,654 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Ardmore Shipping by 58.9% during the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company’s stock worth $2,372,000 after purchasing an additional 48,598 shares during the period. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Price Performance

ASC stock opened at $9.06 on Friday. The firm has a market cap of $378.88 million, a price-to-earnings ratio of 2.96 and a beta of 0.25. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a 12-month low of $9.01 and a 12-month high of $23.44. The company’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $14.07.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Thursday, February 13th. The shipping company reported $0.25 earnings per share 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%. On average, analysts expect that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, February 28th. Ardmore Shipping’s dividend payout ratio (DPR) is currently 10.46%.

Wall Street Analyst Weigh In

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 report on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ardmore Shipping currently has a consensus rating of “Hold” and a consensus 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.