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Ardmore Shipping Co. (NYSE:ASC) Declares Dividend of $0.05

Ardmore Shipping logo with Transportation background

Ardmore Shipping Co. (NYSE:ASC - Get Free Report) announced a dividend on Saturday, May 24th, investing.com reports. Shareholders of record on Monday, June 2nd will be given a dividend of 0.05 per share by the shipping company on Friday, June 13th. This represents a yield of 2.05%. The ex-dividend date is Friday, May 30th.

Ardmore Shipping has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ardmore Shipping to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 14.5%.

Ardmore Shipping Trading Down 4.4%

ASC stock traded down $0.44 on Wednesday, reaching $9.49. The company's stock had a trading volume of 843,859 shares, compared to its average volume of 686,220. The business has a fifty day simple moving average of $9.56 and a two-hundred day simple moving average of $10.71. Ardmore Shipping has a 12-month low of $8.32 and a 12-month high of $23.19. 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 firm has a market cap of $385.32 million, a PE ratio of 3.10 and a beta of -0.02.

Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The shipping company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $74.00 million during the quarter, compared to analysts' expectations of $43.04 million. Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. The business's quarterly revenue was down 30.4% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. As a group, research analysts forecast that Ardmore Shipping will post 1.06 EPS for the current year.

Institutional Investors Weigh In On Ardmore Shipping

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in Ardmore Shipping by 7.5% during the 1st quarter. Empowered Funds LLC now owns 234,987 shares of the shipping company's stock valued at $2,301,000 after buying an additional 16,458 shares during the last quarter. AQR Capital Management LLC increased its position in Ardmore Shipping by 31.2% during the first quarter. AQR Capital Management LLC now owns 77,769 shares of the shipping company's stock valued at $761,000 after acquiring an additional 18,500 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ardmore Shipping by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company's stock valued at $242,000 after acquiring an additional 1,102 shares during the last quarter. 62.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ASC shares. Jefferies Financial Group restated a "buy" rating and issued a $17.00 price objective on shares of Ardmore Shipping in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Evercore ISI lowered their price target on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.67.

Get Our Latest Stock Analysis on ASC

About Ardmore Shipping

(Get Free Report)

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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Dividend History for Ardmore Shipping (NYSE:ASC)

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