Point72 Asia Singapore Pte. Ltd. Purchases New Holdings in Ardmore Shipping Co. (NYSE:ASC)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ardmore Shipping Co. (NYSE:ASC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,280 shares of the shipping company’s stock, valued at approximately $29,000.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Ardmore Shipping by 23.9% in the fourth quarter. Wellington Management Group LLP now owns 696,697 shares of the shipping company’s stock valued at $9,816,000 after buying an additional 134,233 shares during the period. Vanguard Group Inc. boosted its stake in shares of Ardmore Shipping by 51.0% in the first quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock valued at $8,885,000 after buying an additional 182,650 shares during the period. Sei Investments Co. boosted its stake in shares of Ardmore Shipping by 15.0% in the first quarter. Sei Investments Co. now owns 495,593 shares of the shipping company’s stock valued at $8,138,000 after buying an additional 64,805 shares during the period. LSV Asset Management bought a new stake in Ardmore Shipping during the first quarter worth $714,000. Finally, Janney Montgomery Scott LLC bought a new stake in Ardmore Shipping during the first quarter worth $459,000. 62.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Stifel Nicolaus upped their target price on Ardmore Shipping from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Fearnley Fonds upgraded Ardmore Shipping to a “hold” rating in a research note on Friday, September 27th. Finally, Evercore ISI upped their target price on Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.67.

Ardmore Shipping Stock Down 0.1 %

Shares of NYSE:ASC opened at $18.08 on Wednesday. The company has a fifty day moving average of $18.78 and a 200-day moving average of $19.32. The company has a market capitalization of $734.54 million, a PE ratio of 6.93 and a beta of 0.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 3.50. Ardmore Shipping Co. has a 52-week low of $11.78 and a 52-week high of $23.44.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, July 31st. The shipping company reported $1.13 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. On average, equities analysts predict that Ardmore Shipping Co. will post 3.46 EPS for the current fiscal 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 issued a $0.38 dividend. 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 8.41%. Ardmore Shipping’s payout ratio 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.