Ardmore Shipping Co. (NYSE:ASC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its stake in Ardmore Shipping Co. (NYSE:ASC) by 0.3% in the 2nd quarter, Holdings Channel reports. The firm owned 2,749,466 shares of the shipping company’s stock after selling 7,326 shares during the quarter. Dimensional Fund Advisors LP owned 0.07% of Ardmore Shipping worth $61,946,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Ardmore Shipping by 23.9% during the 4th quarter. Wellington Management Group LLP now owns 696,697 shares of the shipping company’s stock worth $9,816,000 after purchasing an additional 134,233 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ardmore Shipping by 51.0% during the 1st quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock worth $8,885,000 after purchasing an additional 182,650 shares during the last quarter. Sei Investments Co. raised its position in shares of Ardmore Shipping by 15.0% in the first quarter. Sei Investments Co. now owns 495,593 shares of the shipping company’s stock valued at $8,138,000 after buying an additional 64,805 shares during the last quarter. LSV Asset Management purchased a new position in shares of Ardmore Shipping during the first quarter valued at approximately $714,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Ardmore Shipping during the 1st quarter worth $459,000. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Analyst Ratings Changes

ASC has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group lifted their price target on shares of Ardmore Shipping from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus upped their price objective on Ardmore Shipping from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

Ardmore Shipping Trading Down 0.7 %

NYSE:ASC opened at $17.94 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 $18.95 and its 200 day simple moving average is $19.24. The stock has a market cap of $728.85 million, a price-to-earnings ratio of 6.87 and a beta of 0.35. Ardmore Shipping Co. has a one year low of $11.78 and a one year high of $23.44.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Wednesday, July 31st. The shipping company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Ardmore Shipping had a return on equity of 24.26% and a net margin of 36.31%. The company had revenue of $121.30 million during the quarter, compared to the consensus estimate of $80.51 million. During the same period in the previous year, the firm posted $0.57 earnings per share. Ardmore Shipping’s quarterly revenue was up 32.0% compared to the same quarter last year. As a group, sell-side analysts predict that Ardmore Shipping Co. will post 3.46 earnings per share for the current fiscal year.

Ardmore Shipping Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 8.47%. Ardmore Shipping’s payout ratio is 58.24%.

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.