Squarepoint Ops LLC Purchases Shares of 216,551 Ardmore Shipping Co. (NYSE:ASC)

Squarepoint Ops LLC acquired a new position in Ardmore Shipping Co. (NYSE:ASC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 216,551 shares of the shipping company's stock, valued at approximately $2,631,000. Squarepoint Ops LLC owned 0.52% of Ardmore Shipping as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in shares of Ardmore Shipping by 1,647.3% during the 4th quarter. Ameriprise Financial Inc. now owns 670,993 shares of the shipping company's stock worth $8,153,000 after buying an additional 632,592 shares during the period. Victory Capital Management Inc. grew its holdings in Ardmore Shipping by 255.4% during the fourth quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company's stock valued at $5,659,000 after purchasing an additional 334,704 shares during the period. Wellington Management Group LLP increased its stake in Ardmore Shipping by 24.6% in the fourth quarter. Wellington Management Group LLP now owns 1,413,554 shares of the shipping company's stock valued at $17,175,000 after purchasing an additional 279,403 shares in the last quarter. Wells Fargo & Company MN increased its stake in Ardmore Shipping by 34.7% in the fourth quarter. Wells Fargo & Company MN now owns 712,587 shares of the shipping company's stock valued at $8,658,000 after purchasing an additional 183,393 shares in the last quarter. Finally, Numerai GP LLC raised its holdings in Ardmore Shipping by 241.4% in the fourth quarter. Numerai GP LLC now owns 256,128 shares of the shipping company's stock worth $3,112,000 after purchasing an additional 181,100 shares during the period. 62.22% of the stock is owned by institutional investors.

Ardmore Shipping Stock Up 0.5%

ASC traded up $0.05 during trading on Friday, hitting $9.60. The company had a trading volume of 456,523 shares, compared to its average volume of 685,204. The company has a market capitalization of $389.99 million, a PE ratio of 3.14 and a beta of -0.02. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a one year low of $8.32 and a one year high of $23.16. The firm's 50-day moving average price is $9.53 and its 200 day moving average price is $10.65.

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 return on equity of 20.48% and a net margin of 32.78%. The firm had revenue of $74.00 million for the quarter, compared to analyst estimates of $43.04 million. During the same period in the prior year, the company earned $0.92 earnings per share. The firm's quarterly revenue was down 30.4% on a year-over-year basis. As a group, equities analysts expect that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Ardmore Shipping Announces Dividend

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

Analysts Set New Price Targets

ASC has been the subject of several research analyst reports. Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price target on shares of Ardmore Shipping in a report on Thursday, February 13th. Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI dropped their price target on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their price objective on Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $13.67.

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.