Ardmore Shipping Corporation (NYSE:ASC) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC raised its holdings in Ardmore Shipping Corporation (NYSE:ASC - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,441 shares of the shipping company's stock after purchasing an additional 27,907 shares during the period. Foundry Partners LLC owned 1.06% of Ardmore Shipping worth $4,214,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Signaturefd LLC grew its stake in Ardmore Shipping by 63.3% during the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock valued at $29,000 after acquiring an additional 919 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Ardmore Shipping by 302.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock valued at $31,000 after buying an additional 1,893 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ardmore Shipping during the 4th quarter valued at $36,000. SBI Securities Co. Ltd. raised its holdings in Ardmore Shipping by 545.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,683 shares of the shipping company's stock valued at $36,000 after buying an additional 3,112 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in Ardmore Shipping during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 62.22% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI reduced their price objective on shares of Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Fearnley Fonds raised shares of Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.67.

Ardmore Shipping Trading Up 0.7%

Ardmore Shipping stock traded up $0.07 during midday trading on Tuesday, reaching $10.04. The stock had a trading volume of 188,531 shares, compared to its average volume of 670,984. The firm has a market cap of $407.91 million, a price-to-earnings ratio of 4.42 and a beta of 0.02. Ardmore Shipping Corporation has a 52-week low of $8.32 and a 52-week high of $22.70. The company has a fifty day moving average of $9.96 and a 200 day moving average of $10.24. The company has a quick ratio of 3.36, a current ratio of 3.73 and a debt-to-equity ratio of 0.03.

Ardmore Shipping (NYSE:ASC - Get Free Report) last released its earnings results on Wednesday, May 7th. The shipping company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Ardmore Shipping had a return on equity of 14.77% and a net margin of 26.78%. The company had revenue of $74.00 million during the quarter, compared to analyst estimates of $43.04 million. During the same quarter last year, the business earned $0.92 earnings per share. The firm's revenue for the quarter was down 30.4% on a year-over-year basis. On average, analysts anticipate that Ardmore Shipping Corporation will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Announces Dividend

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

Ardmore Shipping 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.