Ardmore Shipping (NYSE:ASC) Shares Unloaded Rep. Virginia Foxx

Representative Virginia Foxx (R-North Carolina) recently sold shares of Ardmore Shipping Co. NYSE: ASC. In a filing disclosed on January 06th, the Representative disclosed that they had sold between $15,001 and $50,000 in Ardmore Shipping stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of AbbVie NYSE: ABBV on 12/6/2024.
• Sold $50,001 - $100,000 in shares of Via Renewables NASDAQ: VIASP on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of American Electric Power NASDAQ: AEP on 12/6/2024.
• Sold $15,001 - $50,000 in shares of FLEX LNG NYSE: FLNG on 12/6/2024.
• Sold $50,001 - $100,000 in shares of Pembina Pipeline NYSE: PBA on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of Bristol-Myers Squibb NYSE: BMY on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of Amgen NASDAQ: AMGN on 12/6/2024.
• Sold $15,001 - $50,000 in shares of Alliance Resource Partners NASDAQ: ARLP on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of Duke Energy NYSE: DUK on 12/6/2024.
• Sold $15,001 - $50,000 in shares of Energy Transfer NYSE: ET on 12/6/2024.

Ardmore Shipping Price Performance

Shares of Ardmore Shipping stock traded down $0.23 during trading hours on Thursday, reaching $12.54. 594,605 shares of the company's stock were exchanged, compared to its average volume of 741,361. The business has a fifty day moving average of $11.98 and a two-hundred day moving average of $16.44. The company has a quick ratio of 3.26, a current ratio of 3.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $524.70 million, a P/E ratio of 3.51 and a beta of 0.28. Ardmore Shipping Co. has a 1 year low of $10.86 and a 1 year high of $23.44.

Ardmore Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 5.74%. Ardmore Shipping's payout ratio is currently 20.17%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a research note on Wednesday, September 25th. Stifel Nicolaus downgraded Ardmore Shipping from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $24.00 to $17.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised Ardmore Shipping to a "hold" rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group reduced their price target on Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $20.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ASC. Bank of New York Mellon Corp increased its position in shares of Ardmore Shipping by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 131,120 shares of the shipping company's stock valued at $2,954,000 after acquiring an additional 14,147 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Ardmore Shipping by 8.2% in the 2nd quarter. Principal Financial Group Inc. now owns 24,802 shares of the shipping company's stock valued at $559,000 after purchasing an additional 1,877 shares during the last quarter. Rhumbline Advisers raised its position in Ardmore Shipping by 2.5% in the second quarter. Rhumbline Advisers now owns 110,808 shares of the shipping company's stock valued at $2,496,000 after purchasing an additional 2,744 shares during the period. Larson Financial Group LLC acquired a new position in Ardmore Shipping during the second quarter worth $34,000. Finally, Acadian Asset Management LLC boosted its position in shares of Ardmore Shipping by 135.1% during the second quarter. Acadian Asset Management LLC now owns 308,200 shares of the shipping company's stock worth $6,936,000 after buying an additional 177,130 shares during the period. 62.22% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina's 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina's 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.