Ardmore Shipping Co. (NYSE:ASC - Get Free Report) traded down 4.7% during trading on Tuesday . The stock traded as low as $15.71 and last traded at $15.71. 367,647 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 656,295 shares. The stock had previously closed at $16.49.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on ASC shares. Stifel Nicolaus boosted their price objective on shares of Ardmore Shipping from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Jefferies Financial Group reissued a "buy" rating and set a $20.00 price objective on shares of Ardmore Shipping in a research report on Thursday, February 15th. Finally, StockNews.com downgraded shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th.
Read Our Latest Stock Analysis on ASC
Ardmore Shipping Trading Down 4.6 %
The stock has a market cap of $639.11 million, a P/E ratio of 5.67 and a beta of 0.38. The company has a current ratio of 3.75, a quick ratio of 3.38 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average price is $16.27 and its 200 day moving average price is $14.72.
Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its earnings results on Thursday, February 15th. The shipping company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The firm had revenue of $98.80 million for the quarter, compared to analysts' expectations of $64.26 million. During the same quarter in the previous year, the business posted $1.33 EPS. The company's quarterly revenue was down 25.6% on a year-over-year basis. Equities research analysts expect that Ardmore Shipping Co. will post 2.6 earnings per share for the current year.
Ardmore Shipping Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from Ardmore Shipping's previous quarterly dividend of $0.16. Ardmore Shipping's payout ratio is 30.77%.
Institutional Trading of Ardmore Shipping
Hedge funds have recently modified their holdings of the business. Clear Street Markets LLC bought a new stake in shares of Ardmore Shipping during the 1st quarter valued at $36,000. Quadrant Capital Group LLC boosted its stake in Ardmore Shipping by 87.3% in the 4th quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company's stock worth $62,000 after purchasing an additional 2,042 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Ardmore Shipping by 253.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,621 shares of the shipping company's stock worth $60,000 after purchasing an additional 3,315 shares in the last quarter. Citigroup Inc. boosted its stake in Ardmore Shipping by 874.3% in the 1st quarter. Citigroup Inc. now owns 5,125 shares of the shipping company's stock worth $76,000 after purchasing an additional 4,599 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Ardmore Shipping by 21.7% in the 4th quarter. Amalgamated Bank now owns 5,375 shares of the shipping company's stock worth $77,000 after purchasing an additional 960 shares in the last quarter. Institutional investors own 62.22% of the company's stock.
About Ardmore Shipping
(
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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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