RBF Capital LLC Sells 40,000 Shares of Ardmore Shipping Co. (NYSE:ASC)

RBF Capital LLC lessened its position in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 901,880 shares of the shipping company's stock after selling 40,000 shares during the period. RBF Capital LLC owned about 2.16% of Ardmore Shipping worth $10,958,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ASC. GAMMA Investing LLC raised its stake in shares of Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock worth $26,000 after acquiring an additional 1,530 shares during the last quarter. Signaturefd LLC grew its holdings in Ardmore Shipping by 63.3% during the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock worth $29,000 after acquiring an additional 919 shares during the period. Farther Finance Advisors LLC increased its holdings in Ardmore Shipping by 302.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock valued at $31,000 after purchasing an additional 1,893 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Ardmore Shipping by 228.1% in the 4th quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company's stock valued at $60,000 after acquiring an additional 3,422 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Ardmore Shipping by 18.5% during the fourth quarter. Legal & General Group Plc now owns 8,010 shares of the shipping company's stock worth $97,000 after purchasing an additional 1,252 shares in the last quarter. Institutional investors own 62.22% of the company's stock.

Wall Street Analyst Weigh In

ASC has been the topic of several recent analyst reports. Evercore ISI cut their price objective on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and set a $17.00 price objective on shares of Ardmore Shipping in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price 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 given a buy rating to the company's stock. According to MarketBeat.com, Ardmore Shipping has an average rating of "Hold" and a consensus target price of $13.67.

Ardmore Shipping Stock Up 0.2 %

NYSE ASC traded up $0.02 during trading on Monday, hitting $9.60. The stock had a trading volume of 163,104 shares, compared to its average volume of 709,367. The company has a market capitalization of $388.33 million, a PE ratio of 3.14 and a beta of 0.16. Ardmore Shipping Co. has a 12 month low of $8.32 and a 12 month high of $23.44. The company's 50-day moving average price is $9.55 and its two-hundred day moving average price is $11.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.86 and a current ratio of 4.24.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its earnings results on Thursday, February 13th. The shipping company reported $0.25 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%. As a group, sell-side analysts forecast that Ardmore Shipping Co. will post 1.06 EPS for the current 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 given a dividend of $0.08 per share. The ex-dividend date was Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 3.33%. Ardmore Shipping's dividend payout ratio (DPR) is presently 10.46%.

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.