Ardmore Shipping (NYSE:ASC) Shares Unloaded Rep. Virginia Foxx

by · The Cerbat Gem

Representative Virginia Foxx (R-North Carolina) recently sold shares of Ardmore Shipping Co. (NYSE:ASC). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $15,001 and $50,000 in Ardmore Shipping stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

  • Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
  • Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
  • Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Ardmore Shipping Trading Down 1.8 %

Shares of Ardmore Shipping stock traded down $0.23 on Thursday, hitting $12.54. 594,605 shares of the company’s stock traded hands, compared to its average volume of 741,361. Ardmore Shipping Co. has a one year low of $10.86 and a one year high of $23.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.57 and a quick ratio of 3.26. The company has a fifty day moving average of $12.01 and a two-hundred day moving average of $16.47. The company has a market capitalization of $524.70 million, a price-to-earnings ratio of 3.51 and a beta of 0.28.

Ardmore Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 5.74%. Ardmore Shipping’s payout ratio is 20.17%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ardmore Shipping during the second quarter valued at about $29,000. Charles Schwab Investment Management Inc. raised its position in Ardmore Shipping by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,389 shares of the shipping company’s stock valued at $1,799,000 after purchasing an additional 1,302 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Ardmore Shipping by 3.0% in the 3rd 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 last quarter. Larson Financial Group LLC purchased a new position in shares of Ardmore Shipping during the second quarter valued at approximately $34,000. Finally, GAMMA Investing LLC raised its holdings in shares of Ardmore Shipping by 261.1% during the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 1,530 shares in the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ASC. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. Stifel Nicolaus downgraded Ardmore Shipping from a “buy” rating to a “hold” rating and reduced their price objective for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reduced their price objective on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.00.

Get Our Latest Analysis on ASC

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

Ardmore Shipping Company Profile

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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.

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