Trexquant Investment LP grew its holdings in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 688.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 92,990 shares of the shipping company's stock after buying an additional 81,203 shares during the quarter. Trexquant Investment LP owned approximately 0.22% of Ardmore Shipping worth $1,130,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Ardmore Shipping by 7.3% during the 4th quarter. American Century Companies Inc. now owns 1,491,507 shares of the shipping company's stock valued at $18,122,000 after acquiring an additional 101,229 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ardmore Shipping by 24.6% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Ardmore Shipping by 5.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,309,826 shares of the shipping company's stock worth $15,914,000 after buying an additional 63,769 shares in the last quarter. Private Management Group Inc. grew its stake in shares of Ardmore Shipping by 16.3% in the fourth quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company's stock worth $14,639,000 after acquiring an additional 168,731 shares during the period. Finally, Royce & Associates LP raised its stake in Ardmore Shipping by 24.2% during the 4th quarter. Royce & Associates LP now owns 830,420 shares of the shipping company's stock valued at $10,090,000 after buying an additional 161,670 shares during the last quarter. Institutional investors own 62.22% of the company's stock.
Wall Street Analysts Forecast Growth
ASC has been the topic of several recent research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Ardmore Shipping in a research note on Thursday, February 13th. 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Ardmore Shipping has an average rating of "Hold" and an average target price of $18.00.
Read Our Latest Research Report on Ardmore Shipping
Ardmore Shipping Trading Up 0.8 %
NYSE:ASC traded up $0.07 during midday trading on Wednesday, hitting $8.77. 118,355 shares of the company traded hands, compared to its average volume of 705,861. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average is $9.85 and its 200-day moving average is $12.02. The firm has a market capitalization of $354.79 million, a P/E ratio of 2.87 and a beta of 0.16. Ardmore Shipping Co. has a 12-month low of $8.32 and a 12-month high of $23.44.
Ardmore Shipping (NYSE:ASC - Get Free Report) last released its earnings results on Thursday, February 13th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. On average, sell-side analysts predict that Ardmore Shipping Co. will post 1.06 EPS for the current year.
Ardmore Shipping Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.65%. Ardmore Shipping's dividend payout ratio is 10.46%.
About Ardmore Shipping
(
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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