Arrowstreet Capital Limited Partnership lifted its holdings in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,309,826 shares of the shipping company's stock after buying an additional 63,769 shares during the period. Arrowstreet Capital Limited Partnership owned about 3.13% of Ardmore Shipping worth $15,914,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in Ardmore Shipping by 261.1% during the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock worth $26,000 after acquiring an additional 1,530 shares during the period. Signaturefd LLC lifted its position in shares of Ardmore Shipping by 63.3% in the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock worth $29,000 after purchasing an additional 919 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Ardmore Shipping by 302.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock worth $31,000 after purchasing an additional 1,893 shares during the period. Quarry LP grew its position in Ardmore Shipping by 829.0% during the third quarter. Quarry LP now owns 3,558 shares of the shipping company's stock valued at $64,000 after purchasing an additional 3,175 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Ardmore Shipping by 228.1% in the 4th quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company's stock valued at $60,000 after buying an additional 3,422 shares during the period. Hedge funds and other institutional investors own 62.22% of the company's stock.
Ardmore Shipping Stock Up 5.6 %
ASC traded up $0.48 during midday trading on Wednesday, hitting $8.99. 980,419 shares of the company's stock traded hands, compared to its average volume of 708,341. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.24 and a quick ratio of 3.86. The company has a market cap of $363.69 million, a PE ratio of 2.94 and a beta of 0.16. Ardmore Shipping Co. has a one year low of $8.32 and a one year high of $23.44. The stock's fifty day simple moving average is $10.08 and its 200-day simple moving average is $12.27.
Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities analysts anticipate that Ardmore Shipping Co. will post 1.06 earnings per share for the current fiscal year.
Ardmore Shipping Cuts Dividend
The business also recently declared 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 of this dividend was Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 3.56%. Ardmore Shipping's dividend payout ratio (DPR) is presently 10.46%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ASC. Jefferies Financial Group reissued a "buy" rating and set a $17.00 target price on shares of Ardmore Shipping in a research note on Thursday, February 13th. Stifel Nicolaus reduced their price objective on Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.00.
Check Out Our Latest Research Report on Ardmore Shipping
Ardmore Shipping Company Profile
(
Free Report)
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.
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