Ardmore Shipping Co. (NYSE:ASC) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 460,825 shares of the shipping company's stock after acquiring an additional 44,964 shares during the period. Federated Hermes Inc. owned approximately 1.10% of Ardmore Shipping worth $5,599,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Ardmore Shipping by 255.4% in the fourth quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company's stock valued at $5,659,000 after purchasing an additional 334,704 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Ardmore Shipping by 40.2% in the 3rd quarter. Janus Henderson Group PLC now owns 24,467 shares of the shipping company's stock valued at $443,000 after buying an additional 7,010 shares in the last quarter. Barclays PLC increased its stake in shares of Ardmore Shipping by 301.1% in the 3rd quarter. Barclays PLC now owns 58,431 shares of the shipping company's stock worth $1,058,000 after acquiring an additional 43,862 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Ardmore Shipping by 406.6% during the 4th quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company's stock worth $1,189,000 after acquiring an additional 78,524 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Ardmore Shipping by 261.1% during the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock valued at $26,000 after acquiring an additional 1,530 shares during the last quarter. 62.22% of the stock is owned by hedge funds and other institutional investors.

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Ardmore Shipping Stock Down 4.1 %

Shares of Ardmore Shipping stock traded down $0.38 during trading hours on Monday, reaching $8.91. 434,887 shares of the company were exchanged, compared to its average volume of 708,148. The stock's fifty day moving average is $9.91 and its 200 day moving average is $12.05. 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 1 year low of $8.32 and a 1 year high of $23.44. The firm has a market cap of $360.45 million, a PE ratio of 2.91 and a beta of 0.16.

Ardmore Shipping (NYSE:ASC - Get Free Report) last released its earnings results on Thursday, February 13th. The shipping company reported $0.25 earnings per share 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 research analysts forecast that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Ardmore Shipping Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Friday, February 28th. Ardmore Shipping's dividend payout ratio is presently 10.46%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ASC shares. Jefferies Financial Group restated 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 decreased their price objective on shares of Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.