Victory Capital Management Inc. increased its holdings in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 255.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,777 shares of the shipping company's stock after purchasing an additional 334,704 shares during the period. Victory Capital Management Inc. owned approximately 1.11% of Ardmore Shipping worth $5,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Management Group Inc. increased its holdings in shares of Ardmore Shipping by 16.3% during the 4th quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company's stock valued at $14,639,000 after purchasing an additional 168,731 shares in the last quarter. State Street Corp increased its holdings in Ardmore Shipping by 0.4% in the third quarter. State Street Corp now owns 782,368 shares of the shipping company's stock valued at $14,161,000 after buying an additional 2,922 shares in the last quarter. Foundry Partners LLC raised its position in shares of Ardmore Shipping by 217.5% in the third quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company's stock worth $10,232,000 after acquiring an additional 387,240 shares during the period. Empowered Funds LLC boosted its stake in shares of Ardmore Shipping by 5.1% during the 4th quarter. Empowered Funds LLC now owns 218,529 shares of the shipping company's stock worth $2,655,000 after acquiring an additional 10,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Ardmore Shipping by 21.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 121,097 shares of the shipping company's stock worth $1,471,000 after acquiring an additional 21,708 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on ASC shares. Stifel Nicolaus dropped their price target on shares of Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Ardmore Shipping in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Ardmore Shipping has a consensus rating of "Hold" and a consensus target price of $18.00.
Check Out Our Latest Report on Ardmore Shipping
Ardmore Shipping Trading Up 2.7 %
NYSE ASC traded up $0.28 on Wednesday, reaching $10.46. 357,881 shares of the company were exchanged, compared to its average volume of 748,847. Ardmore Shipping Co. has a fifty-two week low of $8.83 and a fifty-two week high of $23.44. The stock has a market capitalization of $423.08 million, a P/E ratio of 3.41 and a beta of 0.24. The business's fifty day moving average price is $11.00 and its 200 day moving average price is $13.20. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06.
Ardmore Shipping (NYSE:ASC - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 earnings per share (EPS) 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%. Analysts forecast that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.
Ardmore Shipping Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, February 28th. Ardmore Shipping's payout ratio is presently 10.46%.
About Ardmore Shipping
(
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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