Deutsche Bank AG lessened its position in Ardmore Shipping Corporation (NYSE:ASC - Free Report) by 45.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 87,138 shares of the shipping company's stock after selling 71,476 shares during the period. Deutsche Bank AG owned approximately 0.21% of Ardmore Shipping worth $853,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in Ardmore Shipping in the fourth quarter valued at approximately $36,000. SBI Securities Co. Ltd. lifted its holdings in shares of Ardmore Shipping by 545.0% in the first quarter. SBI Securities Co. Ltd. now owns 3,683 shares of the shipping company's stock valued at $36,000 after purchasing an additional 3,112 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Ardmore Shipping in the fourth quarter valued at approximately $47,000. Quarry LP lifted its holdings in shares of Ardmore Shipping by 37.4% in the fourth quarter. Quarry LP now owns 4,890 shares of the shipping company's stock valued at $59,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Ardmore Shipping by 18.5% in the fourth quarter. Legal & General Group Plc now owns 8,010 shares of the shipping company's stock valued at $97,000 after purchasing an additional 1,252 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on ASC shares. Zacks Research upgraded Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Fearnley Fonds upgraded Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Evercore ISI set a $13.00 target price on Ardmore Shipping in a report on Wednesday, July 30th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $14.00 target price on shares of Ardmore Shipping in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Ardmore Shipping currently has an average rating of "Buy" and a consensus price target of $12.67.
Read Our Latest Stock Analysis on Ardmore Shipping
Ardmore Shipping Stock Performance
Ardmore Shipping stock traded down $0.10 during mid-day trading on Friday, reaching $11.61. 305,981 shares of the company's stock were exchanged, compared to its average volume of 518,809. The business's fifty day simple moving average is $10.50 and its 200 day simple moving average is $9.99. The firm has a market capitalization of $471.40 million, a PE ratio of 11.27 and a beta of 0.11. Ardmore Shipping Corporation has a one year low of $8.32 and a one year high of $19.01. The company has a quick ratio of 3.56, a current ratio of 3.88 and a debt-to-equity ratio of 0.04.
Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. The business had revenue of $72.05 million for the quarter, compared to analyst estimates of $44.92 million. Ardmore Shipping had a return on equity of 8.46% and a net margin of 14.48%.Ardmore Shipping's quarterly revenue was down 40.6% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. On average, sell-side analysts expect that Ardmore Shipping Corporation will post 1.06 earnings per share for the current year.
Ardmore Shipping Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. This is an increase from Ardmore Shipping's previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 29th. Ardmore Shipping's dividend payout ratio is 27.18%.
About Ardmore Shipping
(
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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