Rhumbline Advisers Has $2.50 Million Stock Holdings in Ardmore Shipping Co. (NYSE:ASC)

Rhumbline Advisers boosted its holdings in shares of Ardmore Shipping Co. (NYSE:ASC) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,808 shares of the shipping company’s stock after buying an additional 2,744 shares during the period. Rhumbline Advisers owned approximately 0.27% of Ardmore Shipping worth $2,496,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Ardmore Shipping by 23.9% during the fourth quarter. Wellington Management Group LLP now owns 696,697 shares of the shipping company’s stock worth $9,816,000 after buying an additional 134,233 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ardmore Shipping by 51.0% during the first quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock worth $8,885,000 after buying an additional 182,650 shares during the last quarter. Sei Investments Co. raised its holdings in Ardmore Shipping by 15.0% during the first quarter. Sei Investments Co. now owns 495,593 shares of the shipping company’s stock worth $8,138,000 after buying an additional 64,805 shares during the last quarter. LSV Asset Management acquired a new position in Ardmore Shipping during the first quarter worth $714,000. Finally, Janney Montgomery Scott LLC acquired a new position in Ardmore Shipping during the first quarter worth $459,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group increased their target price on shares of Ardmore Shipping from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus increased their target price on shares of Ardmore Shipping from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI increased their target price on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd.

Ardmore Shipping Stock Performance

Shares of ASC stock opened at $17.60 on Thursday. The firm has a 50-day moving average of $19.23 and a 200-day moving average of $19.18. The company has a market cap of $715.04 million, a P/E ratio of 6.74 and a beta of 0.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.50 and a quick ratio of 3.18. Ardmore Shipping Co. has a one year low of $11.78 and a one year high of $23.44.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, July 31st. The shipping company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $121.30 million during the quarter, compared to the consensus estimate of $80.51 million. Ardmore Shipping had a net margin of 36.31% and a return on equity of 24.26%. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Equities research analysts forecast that Ardmore Shipping Co. will post 3.46 EPS for the current fiscal year.

Ardmore Shipping Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 8.64%. Ardmore Shipping’s payout ratio is currently 58.24%.

About Ardmore Shipping

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.