Janney Montgomery Scott LLC Purchases Shares of 40,231 Ardmore Shipping Corporation (NYSE:ASC)

Janney Montgomery Scott LLC acquired a new position in shares of Ardmore Shipping Corporation (NYSE:ASC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,231 shares of the shipping company's stock, valued at approximately $394,000. Janney Montgomery Scott LLC owned about 0.10% of Ardmore Shipping as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Ardmore Shipping by 63.3% during the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock worth $29,000 after acquiring an additional 919 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Ardmore Shipping by 302.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock worth $31,000 after acquiring an additional 1,893 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Ardmore Shipping during the 4th quarter worth $36,000. Ameriflex Group Inc. bought a new stake in shares of Ardmore Shipping during the 4th quarter worth $47,000. Finally, Quarry LP lifted its holdings in shares of Ardmore Shipping by 37.4% during the 4th quarter. Quarry LP now owns 4,890 shares of the shipping company's stock worth $59,000 after acquiring an additional 1,332 shares during the last quarter. 62.22% of the stock is owned by institutional investors.

Ardmore Shipping Stock Performance

Ardmore Shipping stock opened at $10.25 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $416.36 million, a PE ratio of 4.50 and a beta of 0.02. The firm has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $10.39. Ardmore Shipping Corporation has a twelve month low of $8.32 and a twelve month high of $22.70.

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

Ardmore Shipping Announces Dividend

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

Analyst Upgrades and Downgrades

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

About Ardmore Shipping

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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