66,110 Shares in Ardmore Shipping Co. (NYSE:ASC) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 66,110 shares of the shipping company's stock, valued at approximately $803,000. Mackenzie Financial Corp owned 0.16% of Ardmore Shipping as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Ardmore Shipping by 255.4% during the 4th quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company's stock valued at $5,659,000 after purchasing an additional 334,704 shares during the period. Bleakley Financial Group LLC increased its position in shares of Ardmore Shipping by 406.6% during the 4th quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company's stock valued at $1,189,000 after purchasing an additional 78,524 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Ardmore Shipping by 1,647.3% during the 4th quarter. Ameriprise Financial Inc. now owns 670,993 shares of the shipping company's stock worth $8,153,000 after acquiring an additional 632,592 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Ardmore Shipping by 24.6% during the 4th quarter. Wellington Management Group LLP now owns 1,413,554 shares of the shipping company's stock worth $17,175,000 after acquiring an additional 279,403 shares in the last quarter. Finally, Townsquare Capital LLC bought a new stake in shares of Ardmore Shipping during the 4th quarter worth $443,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Stock Down 0.4%

ASC stock traded down $0.04 during mid-day trading on Thursday, hitting $9.67. The stock had a trading volume of 313,183 shares, compared to its average volume of 676,836. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a 1-year low of $8.32 and a 1-year high of $23.16. The company has a fifty day moving average of $9.50 and a 200 day moving average of $10.62. The stock has a market capitalization of $392.63 million, a price-to-earnings ratio of 3.16 and a beta of -0.02.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The shipping company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The company had revenue of $74.00 million during the quarter, compared to analyst estimates of $43.04 million. Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. Ardmore Shipping's quarterly revenue was down 30.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities analysts expect that Ardmore Shipping Co. will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 2.05%. Ardmore Shipping's dividend payout ratio (DPR) is presently 8.77%.

Analyst Ratings Changes

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

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.