Ardmore Shipping Corporation (NYSE:ASC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Ardmore Shipping Corporation (NYSE:ASC - Free Report) by 40.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,062 shares of the shipping company's stock after selling 185,763 shares during the quarter. Federated Hermes Inc. owned 0.68% of Ardmore Shipping worth $2,693,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Ardmore Shipping by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,738,153 shares of the shipping company's stock worth $33,268,000 after acquiring an additional 24,030 shares in the last quarter. Wellington Management Group LLP boosted its position 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 worth $17,175,000 after purchasing an additional 279,403 shares during the period. Royce & Associates LP increased its stake in shares of Ardmore Shipping by 5.9% in the first quarter. Royce & Associates LP now owns 879,760 shares of the shipping company's stock worth $8,613,000 after purchasing an additional 49,340 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Ardmore Shipping by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 791,342 shares of the shipping company's stock valued at $9,615,000 after buying an additional 6,156 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Ardmore Shipping by 34.7% in the 4th quarter. Wells Fargo & Company MN now owns 712,587 shares of the shipping company's stock worth $8,658,000 after buying an additional 183,393 shares in the last quarter. Institutional investors own 62.22% of the company's stock.

Ardmore Shipping Trading Down 1.2%

Shares of ASC traded down $0.14 during midday trading on Wednesday, hitting $11.05. The stock had a trading volume of 582,471 shares, compared to its average volume of 661,221. Ardmore Shipping Corporation has a 1 year low of $8.32 and a 1 year high of $20.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.88 and a quick ratio of 3.56. The stock's 50 day moving average is $10.10 and its 200 day moving average is $10.07. The firm has a market cap of $448.65 million, a PE ratio of 10.72 and a beta of 0.05.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. Ardmore Shipping had a net margin of 14.48% and a return on equity of 8.46%. The business had revenue of $72.05 million during the quarter, compared to the consensus estimate of $44.92 million. During the same quarter last year, the firm earned $1.14 earnings per share. The firm's quarterly revenue was down 40.6% compared to the same quarter last year. As a group, analysts forecast that Ardmore Shipping Corporation will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 205.0%. Ardmore Shipping's dividend payout ratio (DPR) is 19.42%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ASC. Evercore ISI set a $13.00 target price on shares of Ardmore Shipping in a research note on Wednesday, July 30th. Fearnley Fonds upgraded Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $14.00 target price on shares of Ardmore Shipping in a report on Wednesday, July 30th. Two investment 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 stock. According to MarketBeat.com, Ardmore Shipping presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.67.

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.