Michels Family Financial LLC purchased a new stake in Ardmore Shipping Co. (NYSE:ASC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of Ardmore Shipping by 63.3% in 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 during the period. Janus Henderson Group PLC raised its stake in Ardmore Shipping by 4.5% in the 4th quarter. Janus Henderson Group PLC now owns 25,570 shares of the shipping company's stock worth $311,000 after purchasing an additional 1,103 shares in the last quarter. Legal & General Group Plc boosted its holdings in Ardmore Shipping by 18.5% in the 4th quarter. Legal & General Group Plc now owns 8,010 shares of the shipping company's stock valued at $97,000 after purchasing an additional 1,252 shares during the period. Quarry LP grew its position 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 purchasing an additional 1,332 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Ardmore Shipping by 302.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock worth $31,000 after purchasing an additional 1,893 shares during the period. 62.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ASC. Evercore ISI cut their price target on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus cut 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. Jefferies Financial Group restated a "buy" rating and issued a $17.00 price target on shares of Ardmore Shipping in a research report on Thursday, February 13th. Finally, Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Two investment 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 company's stock. According to data from MarketBeat.com, Ardmore Shipping presently has an average rating of "Moderate Buy" and a consensus price target of $13.67.
View Our Latest Analysis on ASC
Ardmore Shipping Price Performance
Shares of ASC stock traded up $0.14 during trading hours on Thursday, reaching $9.61. The company's stock had a trading volume of 209,746 shares, compared to its average volume of 684,678. Ardmore Shipping Co. has a fifty-two week low of $8.32 and a fifty-two week high of $23.19. The firm's 50 day simple moving average is $9.55 and its 200-day simple moving average is $10.71. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $390.40 million, a price-to-earnings ratio of 3.14 and a beta of -0.02.
Ardmore Shipping (NYSE:ASC - Get Free Report) last announced 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 return on equity of 20.48% and a net margin of 32.78%. The business had revenue of $74.00 million for the quarter, compared to the consensus estimate of $43.04 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. Ardmore Shipping's quarterly revenue was down 30.4% compared to the same quarter last year. Sell-side analysts forecast that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.
Ardmore Shipping Announces Dividend
The business also recently declared a dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued 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 (DPR) is presently 8.77%.
Ardmore Shipping Company 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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