Ardmore Shipping Co. (NYSE:ASC) Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 47.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400,981 shares of the shipping company’s stock after acquiring an additional 449,200 shares during the period. Renaissance Technologies LLC owned about 3.45% of Ardmore Shipping worth $31,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ASC. American Century Companies Inc. raised its holdings in shares of Ardmore Shipping by 27.4% during the second quarter. American Century Companies Inc. now owns 1,124,835 shares of the shipping company’s stock worth $25,343,000 after acquiring an additional 241,748 shares in the last quarter. Vanguard Group Inc. increased its position in Ardmore Shipping by 51.0% during the first quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock worth $8,885,000 after buying an additional 182,650 shares during the last quarter. Foundry Partners LLC acquired a new position in Ardmore Shipping during the second quarter worth $4,012,000. Acadian Asset Management LLC increased its position in Ardmore Shipping by 135.1% during the second quarter. Acadian Asset Management LLC now owns 308,200 shares of the shipping company’s stock worth $6,936,000 after buying an additional 177,130 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Ardmore Shipping by 23.9% during the fourth quarter. Wellington Management Group LLP now owns 696,697 shares of the shipping company’s stock worth $9,816,000 after buying an additional 134,233 shares during the last quarter. 62.22% of the stock is currently owned by hedge funds and other institutional investors.

Ardmore Shipping Trading Up 2.0 %

Ardmore Shipping stock opened at $17.96 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 3.50. The business’s 50-day simple moving average is $19.19 and its 200-day simple moving average is $19.17. The firm has a market capitalization of $729.66 million, a PE ratio of 6.88 and a beta of 0.35. Ardmore Shipping Co. has a 52 week low of $11.78 and a 52 week high of $23.44.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Wednesday, July 31st. The shipping company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $121.30 million for the quarter, compared to analyst estimates of $80.51 million. Ardmore Shipping had a return on equity of 24.26% and a net margin of 36.31%. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. Equities research analysts forecast that Ardmore Shipping Co. will post 3.46 earnings per share for the current year.

Ardmore Shipping Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.46%. Ardmore Shipping’s payout ratio is presently 58.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ASC shares. Jefferies Financial Group increased their target price on shares of Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI increased their target price on shares of Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus increased their target price on shares of Ardmore Shipping from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday.

Ardmore Shipping 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.