Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, investing.com reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.07 per share by the shipping company on Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 29th. This is a 40.0% increase from Ardmore Shipping's previous quarterly dividend of $0.05.
Ardmore Shipping has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance
Shares of ASC stock traded up $0.13 during trading hours on Wednesday, hitting $11.57. The company's stock had a trading volume of 305,723 shares, compared to its average volume of 646,864. The company has a 50 day moving average of $10.42 and a 200 day moving average of $9.99. The stock has a market cap of $469.77 million, a PE ratio of 11.23 and a beta of 0.05. The company has a current ratio of 3.88, a quick ratio of 3.56 and a debt-to-equity ratio of 0.04. Ardmore Shipping has a 12-month low of $8.32 and a 12-month high of $19.09.
Ardmore Shipping (NYSE:ASC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $72.05 million for the quarter, compared to the consensus estimate of $44.92 million. Ardmore Shipping had a net margin of 14.48% and a return on equity of 8.46%. The business's revenue for the quarter was down 40.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. On average, sell-side analysts forecast that Ardmore Shipping will post 1.06 EPS for the current fiscal year.
Institutional Investors Weigh In On Ardmore Shipping
A number of hedge funds have recently modified their holdings of ASC. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Ardmore Shipping in the second quarter valued at about $21,019,000. Ameriprise Financial Inc. grew its holdings in shares of Ardmore Shipping by 1,647.3% in the fourth quarter. Ameriprise Financial Inc. now owns 670,993 shares of the shipping company's stock valued at $8,153,000 after purchasing an additional 632,592 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Ardmore Shipping in the first quarter valued at about $4,683,000. Wellington Management Group LLP grew its holdings in shares of Ardmore Shipping by 24.6% in the fourth quarter. Wellington Management Group LLP now owns 1,413,554 shares of the shipping company's stock valued at $17,175,000 after purchasing an additional 279,403 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Ardmore Shipping in the fourth quarter valued at about $2,631,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.
About Ardmore Shipping
(
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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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