Wellington Management Group LLP lifted its position in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 24.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,413,554 shares of the shipping company's stock after buying an additional 279,403 shares during the period. Wellington Management Group LLP owned 3.38% of Ardmore Shipping worth $17,175,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of ASC. GAMMA Investing LLC grew its position 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 during the period. Signaturefd LLC lifted its holdings in shares of Ardmore Shipping by 63.3% during the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock valued at $29,000 after acquiring an additional 919 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Ardmore Shipping by 302.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock worth $31,000 after buying an additional 1,893 shares during the period. Larson Financial Group LLC raised its holdings in shares of Ardmore Shipping by 228.1% during 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. Finally, Quarry LP boosted its holdings in Ardmore Shipping by 829.0% in the 3rd quarter. Quarry LP now owns 3,558 shares of the shipping company's stock worth $64,000 after acquiring an additional 3,175 shares during the period. Institutional investors and hedge funds own 62.22% of the company's stock.
Ardmore Shipping Stock Down 1.3 %
Ardmore Shipping stock traded down $0.13 during midday trading on Monday, hitting $9.17. The stock had a trading volume of 40,516 shares, compared to its average volume of 744,879. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $9.97 and a 200 day moving average price of $12.11. Ardmore Shipping Co. has a 12 month low of $8.32 and a 12 month high of $23.44. The stock has a market cap of $370.77 million, a P/E ratio of 3.00 and a beta of 0.16.
Ardmore Shipping (NYSE:ASC - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 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%. Research analysts predict that Ardmore Shipping Co. will post 1.06 EPS for the current year.
Ardmore Shipping Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.08 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 3.49%. Ardmore Shipping's dividend payout ratio is currently 10.46%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on ASC shares. Stifel Nicolaus decreased their target price on shares of Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $17.00 price target on shares of Ardmore Shipping in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.00.
Check Out Our Latest Stock Analysis 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.
Further Reading
Before you consider Ardmore Shipping, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardmore Shipping wasn't on the list.
While Ardmore Shipping currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
