Segall Bryant & Hamill LLC purchased a new position in shares of Ardmore Shipping Corporation (NYSE:ASC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 67,765 shares of the shipping company's stock, valued at approximately $1,033,000. Segall Bryant & Hamill LLC owned approximately 0.17% of Ardmore Shipping as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in ASC. LSV Asset Management bought a new stake in shares of Ardmore Shipping during the fourth quarter valued at approximately $618,000. Tudor Investment Corp ET AL bought a new position in Ardmore Shipping in the 3rd quarter worth approximately $1,170,000. Ticino Wealth bought a new position in Ardmore Shipping in the 4th quarter worth approximately $7,647,000. Marnell Management LLC acquired a new position in Ardmore Shipping during the 4th quarter worth $3,877,000. Finally, Renaissance Technologies LLC lifted its holdings in Ardmore Shipping by 18.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,736,632 shares of the shipping company's stock worth $26,484,000 after buying an additional 266,275 shares in the last quarter. Institutional investors own 62.22% of the company's stock.
Insiders Place Their Bets
In other news, Director Curtis B. Mcwilliams sold 16,277 shares of Ardmore Shipping stock in a transaction on Monday, May 18th. The shares were sold at an average price of $19.38, for a total transaction of $315,448.26. Following the transaction, the director directly owned 60,673 shares of the company's stock, valued at $1,175,842.74. This trade represents a 21.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kirsi Tikka sold 12,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $18.93, for a total transaction of $227,160.00. Following the completion of the transaction, the director directly owned 35,471 shares of the company's stock, valued at $671,466.03. This trade represents a 25.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 32,000 shares of company stock worth $613,488.
Ardmore Shipping Price Performance
Ardmore Shipping stock opened at $16.47 on Thursday. The firm has a market capitalization of $670.70 million, a P/E ratio of 6.36 and a beta of 0.03. Ardmore Shipping Corporation has a 1 year low of $10.17 and a 1 year high of $20.02. The business has a 50-day moving average of $16.21 and a 200-day moving average of $15.73. The company has a current ratio of 5.45, a quick ratio of 4.84 and a debt-to-equity ratio of 0.05.
Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.07. Ardmore Shipping had a net margin of 29.67% and a return on equity of 15.24%. The business had revenue of $116.21 million for the quarter, compared to the consensus estimate of $86.30 million.
Ardmore Shipping Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 19.2%. This is a boost from Ardmore Shipping's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 28th. Ardmore Shipping's dividend payout ratio (DPR) is 60.23%.
Wall Street Analyst Weigh In
ASC has been the subject of several research reports. Evercore set a $19.00 target price on Ardmore Shipping in a research note on Tuesday, April 21st. Wall Street Zen lowered Ardmore Shipping from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Ardmore Shipping from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ardmore Shipping has a consensus rating of "Moderate Buy" and an average price target of $17.00.
Check Out Our Latest Stock Report on ASC
About Ardmore Shipping
(
Free Report)
Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.
Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.
See Also
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