WINTON GROUP Ltd Increases Stock Holdings in Ardmore Shipping Corporation $ASC

WINTON GROUP Ltd increased its stake in shares of Ardmore Shipping Corporation (NYSE:ASC) by 246.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 48,800 shares of the shipping company’s stock after purchasing an additional 34,700 shares during the quarter. WINTON GROUP Ltd’s holdings in Ardmore Shipping were worth $684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ASC. BlackRock Inc. purchased a new position in Ardmore Shipping during the second quarter worth $53,878,000. Dimensional Fund Advisors LP grew its stake in Ardmore Shipping by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,452,462 shares of the shipping company’s stock worth $37,399,000 after acquiring an additional 24,244 shares in the last quarter. Wellington Management Group LLP purchased a new position in Ardmore Shipping during the 2nd quarter worth $27,780,000. Renaissance Technologies LLC increased its stake in shares of Ardmore Shipping by 18.1% during the first quarter. Renaissance Technologies LLC now owns 1,736,632 shares of the shipping company’s stock valued at $26,484,000 after buying an additional 266,275 shares during the period. Finally, Flat Footed LLC purchased a new position in Ardmore Shipping during the 2nd quarter valued at about $13,293,599. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Trading Up 0.4%

Shares of NYSE:ASC opened at $18.74 on Tuesday. The business’s 50-day moving average is $17.10 and its 200 day moving average is $16.65. Ardmore Shipping Corporation has a 1 year low of $10.31 and a 1 year high of $20.02. The firm has a market capitalization of $763.24 million, a P/E ratio of 7.24 and a beta of 0.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.45 and a quick ratio of 4.84.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings results on Thursday, July 30th. The shipping company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.07. Ardmore Shipping had a return on equity of 15.24% and a net margin of 29.67%.The business had revenue of $116.21 million during the quarter, compared to the consensus estimate of $86.30 million.

Ardmore Shipping Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, August 28th. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.39. This represents a $3.16 annualized dividend and a dividend yield of 16.9%. Ardmore Shipping’s payout ratio is presently 122.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Ardmore Shipping from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Ardmore Shipping from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

About Ardmore Shipping

Ardmore Shipping Corporation (NYSE: ASC) is a maritime transportation company that owns and operates product and chemical tankers. The company provides seaborne transportation for refined petroleum products, such as gasoline, diesel and jet fuel, as well as certain chemicals and other liquid commodities.

Ardmore’s fleet is primarily composed of medium-range product tankers and specialized chemical tankers. Its vessels serve international trade routes, transporting cargoes between major refining, storage and consumption markets in regions including North America, Europe, the Mediterranean, the Middle East and Asia.

Founded in 2010, Ardmore Shipping is incorporated in Bermuda and is headquartered in Hamilton, Bermuda.