Michels Family Financial LLC purchased a new position in Ardmore Shipping Co. (NYSE:ASC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 28,806 shares of the shipping company's stock, valued at approximately $350,000. Michels Family Financial LLC owned 0.07% of Ardmore Shipping at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ASC. Exchange Traded Concepts LLC grew its position in Ardmore Shipping by 46.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 25,561 shares of the shipping company's stock worth $311,000 after buying an additional 8,087 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Ardmore Shipping by 84.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,925 shares of the shipping company's stock worth $266,000 after purchasing an additional 10,047 shares during the period. Drive Wealth Management LLC purchased a new position in shares of Ardmore Shipping during the 4th quarter valued at $125,000. Private Management Group Inc. grew its stake in Ardmore Shipping by 16.3% in the fourth quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company's stock valued at $14,639,000 after purchasing an additional 168,731 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Ardmore Shipping by 406.6% in the fourth quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company's stock worth $1,189,000 after buying an additional 78,524 shares during the last quarter. 62.22% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ASC has been the topic of several recent research reports. Evercore ISI cut their target price on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Fearnley Fonds upgraded Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price target on shares of Ardmore Shipping in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.67.
Check Out Our Latest Analysis on ASC
Ardmore Shipping Stock Performance
Shares of NYSE ASC traded down $0.44 during trading hours on Wednesday, hitting $9.49. 843,859 shares of the company's stock were exchanged, compared to its average volume of 686,219. The stock has a market capitalization of $385.32 million, a price-to-earnings ratio of 3.10 and a beta of -0.02. The company's 50-day moving average price is $9.56 and its 200-day moving average price is $10.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.24 and a quick ratio of 3.86. Ardmore Shipping Co. has a 1-year low of $8.32 and a 1-year high of $23.19.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its quarterly earnings data 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). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. The business had revenue of $74.00 million during the quarter, compared to the consensus estimate of $43.04 million. During the same period in the prior year, the company posted $0.92 earnings per share. The firm's revenue was down 30.4% compared to the same quarter last year. On average, sell-side analysts expect that Ardmore Shipping Co. will post 1.06 earnings per share for the current fiscal year.
Ardmore Shipping Announces Dividend
The company also recently disclosed a dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.05 per share. This represents a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, May 30th. Ardmore Shipping's dividend payout ratio is presently 8.77%.
Ardmore Shipping Profile
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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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