Federated Hermes Inc. Sells 185,763 Shares of Ardmore Shipping Corporation (NYSE:ASC)

Federated Hermes Inc. trimmed its position in Ardmore Shipping Corporation (NYSE:ASC - Free Report) by 40.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in Ardmore Shipping in the 1st quarter valued at $4,683,000. Royce & Associates LP grew its holdings in shares of Ardmore Shipping by 5.9% during the 1st 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. Foundry Partners LLC grew its holdings in shares of Ardmore Shipping by 6.9% during the 1st quarter. Foundry Partners LLC now owns 430,441 shares of the shipping company's stock worth $4,214,000 after purchasing an additional 27,907 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Ardmore Shipping by 545.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,683 shares of the shipping company's stock worth $36,000 after purchasing an additional 3,112 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Ardmore Shipping by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 35,458 shares of the shipping company's stock worth $347,000 after purchasing an additional 1,060 shares in the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Evercore ISI set a $13.00 price objective on Ardmore Shipping in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group restated a "buy" rating and set a $14.00 price objective on shares of Ardmore Shipping in a research report on Wednesday, July 30th. Two research 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 stock. Based on data from MarketBeat.com, Ardmore Shipping presently has an average rating of "Moderate Buy" and a consensus price target of $12.67.

Ardmore Shipping Trading Down 2.2%

Shares of ASC traded down $0.24 during mid-day trading on Friday, reaching $10.54. 300,814 shares of the company were exchanged, compared to its average volume of 658,230. The stock has a market capitalization of $428.05 million, a PE ratio of 10.21 and a beta of 0.05. The business has a 50 day simple moving average of $10.15 and a two-hundred day simple moving average of $10.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.56 and a current ratio of 3.88. Ardmore Shipping Corporation has a 52 week low of $8.32 and a 52 week high of $20.17.

Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. The business had revenue of $72.05 million during the quarter, compared to the consensus estimate of $44.92 million. Ardmore Shipping had a return on equity of 8.46% and a net margin of 14.48%. The firm's revenue for the quarter was down 40.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. On average, analysts predict that Ardmore Shipping Corporation will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 205.0%. Ardmore Shipping's payout ratio is currently 19.42%.

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.