Invst LLC Increases Stake in Ardmore Shipping Co. (NYSE:ASC)

Invst LLC lifted its stake in shares of Ardmore Shipping Co. (NYSE:ASC) by 66.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,542 shares of the shipping company’s stock after buying an additional 13,376 shares during the quarter. Invst LLC owned about 0.08% of Ardmore Shipping worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in Ardmore Shipping by 47.2% during the second quarter. Renaissance Technologies LLC now owns 1,400,981 shares of the shipping company’s stock worth $31,564,000 after acquiring an additional 449,200 shares in the last quarter. American Century Companies Inc. boosted its stake in Ardmore Shipping by 27.4% during the second quarter. American Century Companies Inc. now owns 1,124,835 shares of the shipping company’s stock worth $25,343,000 after acquiring an additional 241,748 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 acquiring an additional 134,233 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 acquiring an additional 182,650 shares in the last quarter. Finally, Sei Investments Co. boosted its stake 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 acquiring an additional 64,805 shares in the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ASC. Jefferies Financial Group upped their target price on shares of Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI upped their target price on shares of Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus upped their target price on shares of Ardmore Shipping from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th.

Ardmore Shipping Stock Up 0.8 %

Shares of Ardmore Shipping stock opened at $18.10 on Tuesday. The company has a market cap of $735.15 million, a price-to-earnings ratio of 6.93 and a beta of 0.35. The company’s 50 day moving average is $18.84 and its 200 day moving average is $19.31. Ardmore Shipping Co. has a twelve month low of $11.78 and a twelve month high of $23.44. The company has a quick ratio of 3.18, a current ratio of 3.50 and a debt-to-equity ratio of 0.07.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $121.30 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Research analysts anticipate that Ardmore Shipping Co. will post 3.46 EPS for the current year.

Ardmore Shipping Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 8.40%. Ardmore Shipping’s dividend payout ratio (DPR) is 58.24%.

Ardmore Shipping Company 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.