Ardmore Shipping Co. (NYSE:ASC) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,071 shares of the shipping company's stock after buying an additional 70,720 shares during the period. Russell Investments Group Ltd. owned approximately 1.23% of Ardmore Shipping worth $6,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASC. GAMMA Investing LLC lifted its holdings in shares of Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock valued at $26,000 after purchasing an additional 1,530 shares in the last quarter. Signaturefd LLC lifted its stake in Ardmore Shipping by 63.3% in the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock valued at $29,000 after buying an additional 919 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Ardmore Shipping by 302.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock valued at $31,000 after buying an additional 1,893 shares during the last quarter. Larson Financial Group LLC increased its position in Ardmore Shipping by 228.1% during the fourth quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company's stock worth $60,000 after buying an additional 3,422 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Ardmore Shipping in the fourth quarter worth $123,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.

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Ardmore Shipping Trading Down 2.3 %

NYSE ASC traded down $0.21 during trading hours on Tuesday, hitting $8.72. 433,971 shares of the company's stock were exchanged, compared to its average volume of 708,189. The business's 50 day moving average is $9.85 and its 200-day moving average is $12.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.86 and a current ratio of 4.24. Ardmore Shipping Co. has a 12-month low of $8.32 and a 12-month high of $23.44. The firm has a market capitalization of $352.57 million, a P/E ratio of 2.85 and a beta of 0.16.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 earnings per share 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%. As a group, analysts anticipate that Ardmore Shipping Co. will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Cuts Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.67%. Ardmore Shipping's dividend payout ratio is presently 10.46%.

Wall Street Analysts Forecast Growth

ASC has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and set a $17.00 price objective on shares of Ardmore Shipping in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price target on shares of Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $18.00.

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.