Victory Capital Management Inc. trimmed its holdings in shares of Ardmore Shipping Corporation (NYSE:ASC - Free Report) by 31.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,312 shares of the shipping company's stock after selling 148,465 shares during the quarter. Victory Capital Management Inc. owned 0.78% of Ardmore Shipping worth $3,106,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. increased 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 valued at $8,153,000 after purchasing an additional 632,592 shares during the last quarter. Wellington Management Group LLP grew its position in Ardmore Shipping by 24.6% during 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 buying an additional 279,403 shares during the period. Squarepoint Ops LLC bought a new position in Ardmore Shipping during the fourth quarter valued at about $2,631,000. Wells Fargo & Company MN increased its holdings in Ardmore Shipping by 34.7% during the fourth quarter. Wells Fargo & Company MN now owns 712,587 shares of the shipping company's stock worth $8,658,000 after buying an additional 183,393 shares during the last quarter. Finally, Numerai GP LLC raised its position 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 acquiring an additional 181,100 shares during the period. 62.22% of the stock is currently owned by institutional investors.
Ardmore Shipping Trading Down 0.9%
Shares of ASC opened at $10.21 on Monday. The firm has a market cap of $414.81 million, a P/E ratio of 4.48 and a beta of 0.02. Ardmore Shipping Corporation has a fifty-two week low of $8.32 and a fifty-two week high of $22.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.36 and a current ratio of 3.73. The business has a 50-day moving average of $9.99 and a 200 day moving average of $10.16.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its 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 analysts' expectations of $43.04 million. Ardmore Shipping had a return on equity of 14.77% and a net margin of 26.78%. Ardmore Shipping's revenue for the quarter was down 30.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, research analysts forecast that Ardmore Shipping Corporation will post 1.06 EPS for the current year.
Ardmore Shipping Announces Dividend
The firm also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 2.05%. Ardmore Shipping's payout ratio is 8.77%.
Analyst Ratings Changes
ASC has been the subject of a number of research reports. Evercore ISI reduced their target price on shares of Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Fearnley Fonds upgraded Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.67.
View Our Latest Analysis on Ardmore Shipping
Ardmore Shipping Profile
(
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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