Ardmore Shipping (NYSE:ASC) Sets New 1-Year High at $17.17

Ardmore Shipping Co. (NYSE:ASC) shares reached a new 52-week high on Tuesday . The stock traded as high as $17.17 and last traded at $16.86, with a volume of 95435 shares traded. The stock had previously closed at $17.01.

Analyst Ratings Changes

A number of research firms recently commented on ASC. StockNews.com cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group restated a “buy” rating and issued a $20.00 price target on shares of Ardmore Shipping in a report on Thursday, February 15th. Finally, Stifel Nicolaus lifted their price objective on Ardmore Shipping from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 19th.

Ardmore Shipping Trading Down 0.3 %

The firm has a market capitalization of $678.32 million, a price-to-earnings ratio of 6.12 and a beta of 0.38. The business’s fifty day moving average is $16.24 and its 200 day moving average is $15.11. The company has a quick ratio of 3.38, a current ratio of 3.75 and a debt-to-equity ratio of 0.15.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $98.80 million for the quarter, compared to the consensus estimate of $64.26 million. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The company’s revenue for the quarter was down 25.6% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. Equities analysts predict that Ardmore Shipping Co. will post 2.72 earnings per share for the current year.

Ardmore Shipping Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.03%. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, February 28th. Ardmore Shipping’s dividend payout ratio is currently 30.77%.

Institutional Trading of Ardmore Shipping

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC grew its stake in Ardmore Shipping by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 15,476 shares of the shipping company’s stock valued at $218,000 after purchasing an additional 678 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in shares of Ardmore Shipping by 4.6% in the 4th quarter. Simplicity Solutions LLC now owns 15,476 shares of the shipping company’s stock valued at $218,000 after buying an additional 678 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Ardmore Shipping by 87.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock valued at $62,000 after buying an additional 2,042 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Ardmore Shipping by 15.5% during the third quarter. New York State Common Retirement Fund now owns 19,177 shares of the shipping company’s stock worth $249,000 after buying an additional 2,577 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in Ardmore Shipping by 10.1% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 31,330 shares of the shipping company’s stock worth $441,000 after acquiring an additional 2,886 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

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.